DBS Weigao released a report that the core profit of New World Department Store in the first half of fiscal year 2013 rose 11.6 per cent to 317 million yuan, with a dividend per share of 0.098 yuan and a dividend yield of 50 per cent.

Star Show pointed out that compared with its peers, New World Department Store should be able to maintain a healthier profit growth trend in the medium term, mainly because of its more balanced focus on existing store operations and store expansion and growth. DBS raised the target price of New World Department Store from 5.63 yuan to 5.81 yuan, maintaining its "buy" rating.

According to Xingzhan, New World Department Store has performed steadily so far this year, with same-store sales growing to medium-to-high units in February. The company's store rebranding plan should strengthen the company's overall growth momentum by the end of the year. The current management goal is for same-store sales to grow by more than 10 per cent this fiscal year, with total retail space growing by about 15 per cent year-on-year to a total floor area of 1.6 million square meters.