DBS refers to the core profit of 0398.HK for the 12 fiscal year ended September, which surged by 122% to HK $157 million year on year, exceeding market expectations. It is expected to maintain same-store sales growth of more than 25 per cent in the fourth quarter of this year, raising its profit forecast for fiscal year 12 by 30 per cent to HK $342 million / 418 million, with a target price rising from HK $5.37 to HK $6.20 (equivalent to 10 times expected P / E).

The shares fell 2.9 per cent to HK $4.36 yesterday.