Time Watch aims to achieve c.20% growth in core retail division for FY14
Latest price increase for selective watch models should support overall profitability
Possible formation of 3-4 JVs in FY14 could also enhance its medium-term growth prospects
Maintain BUY with HK$1.54 TP, based on 12x 12-mth rolling PE
Time Watch aims to achieve c.20% growth in core retail division for FY14
Latest price increase for selective watch models should support overall profitability
Possible formation of 3-4 JVs in FY14 could also enhance its medium-term growth prospects
Maintain BUY with HK$1.54 TP, based on 12x 12-mth rolling PE