UBS Group released a research report indicating that L'Occitane's (00973.HK) revenue growth for the fiscal year 2024 is in line with expectations, excluding special effects of impairment and share of profits or losses of joint ventures, and the operating profit margin is also in line with expectations. The bank gives a 'neutral' rating for the group, with a target price of HKD 30.6.

The report mentioned that L'Occitane's management expects sales growth in the low teens and a 1% improvement in operating profit margin for the fiscal year 2025. In terms of midterm guidance, it predicts a compound annual sales growth rate of 12%-14% and a recovery of operating profit margin to around 15% by the fiscal year 2027.