Pac Andes: 1Q Rev at HK$2.4b +41.3% yoy -4.5% qoq with net profit at HK$139.6m +38.6% yoy over loss in prev quarter. Co saw a steep rise in other operating income (+457.6% yoy) mainly attributed to negative goodwill through making the Tassal Grp an associate. Gross profit decreased 2.1% despite higher rev on back of higher inventory costs which saw higher prices last quarter.
Pac Andes trades at approx 6.7 P/E.
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