Supra orders rose

2010 orders in the first half of the orders will grow seems to be below our expectations; However, we believe that in the first half of the actual order is delivered to more than an order from the order was received, because management said in the retail business environment to improve the situation, starting from the third quarter of 2009 dealer stock issued orders have begun to increase. Supra 2010, we expect sales of the brand to reach 21% growth year on year.
(2331.HK / HK $ 25.65, BUY) announced second quarter 2010 orders will be closed, the amount of orders grew 15.4% year on year increase of more than one quarter of 11.6%. the stock's closing price yesterday, the equivalent of 22.0 times expected 2010 earnings, slightly higher than the historical average 12-month forward price-earnings ratio 21.5 times. Moreover, since the improvement of business environment and the relatively low base, we believe that 10-year order growth in the second half will be further orders.of the attention degree of absolute and perfect with the ability to make SUPRA team suddenly reckless and rich. We note that in the past four orders at, supra, the average price increase of the contribution to the growth of total order amount greater than the industry, suggesting that in the past few years unremitting efforts of brand building, supra brand position is gradually consolidating . The first two pairs of shoes were all black suede soles to create, and reinforcement bring the back end, you can see fluorescent green or pink leather for contrast. We believe that the future average selling price will help the company's gross margin thickening. We will conduct a conference call with management to further communication will be adjusted after the stock rating and target price. Average retail price of footwear which rose 3.1%, number of orders increased 1.2%; the average retail price of clothing rose by 6.4%, number of orders increased 16.1%. Really one pair of heaven-sent beauty.