China's Anjoy Foods nine-month net income rises 20%

Overview

• China frozen food maker's 9M net income attributable to shareholders rose 20.27% yr/yr

• Nine-month operating income increased 18.38% yr/yr

• Nine-month net cash flows from operating activities grew 63.2%, driven by higher sales and services

Outlook

• Company did not provide specific financial guidance for future quarters or full-year performance

Result Drivers

• SALES CASH INFLOWS – Nine-month operating cash flow rose 63.2% as cash received from sales and services increased

• REVENUE-COST SPREAD – Nine-month operating profit benefited as revenue rose RMB2.09 bln, outpacing a RMB1.75 bln increase in total costs

Company press release: Full Story

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the food processing peer group is "buy"

• Wall Street's median 12-month price target for Anjoy Foods Group Co Ltd is CNY92.00, about 16.3% above its October 28 closing price of CNY79.11

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)