Handsome is up more than 12% in early trading on the 10th. Analysts said the rise comes as brokerages have been raising their target prices for Handsome in quick succession.
As of 9:12 a.m. that day in the Korea Exchange, Handsome was trading at 20,500 won, up 2,250 won (12.33%) from the previous session.
Earlier, Handsome said it posted revenue of 463.7 billion won and operating profit of 27.2 billion won in the fourth quarter of last year. That was up 6.4% and 30.1%, respectively, from a year earlier. It beat market expectations by 3% for revenue and 11% for operating profit.
Lee Jin-hyeop, an analyst at Hanwha Investment & Securities, said, "Growth came as the average ticket size rose, led by mid- to high-end premium brands," and noted, "While top-line growth was solid, continued efforts to cut selling, general and administrative expenses such as promotion costs reduced the SG&A ratio by 1.2 percentage points from a year earlier."
He added the company is expected to maintain high growth this year as well. The analyst said, "Following System, Time has also been listed on the official Paris Fashion Week calendar," and evaluated, "Having a women's brand listed on the official calendar is a first among ready-to-wear brands, marking a meaningful milestone in global expansion."
That day, the securities industry raised its target prices for Handsome. ▲ Hanwha Investment & Securities 26,000 won ▲ Shinhan Investment & Securities 25,000 won ▲ Daishin Securities 25,000 won ▲ NH Investment & Securities 23,000 won.