Uni-President Enterprises Eyes Growth in China and 7-Eleven Philippines Over the Medium Term
No-moat Uni-President Enterprises 1216 hosted an annual results joint meeting to recap 2022 results for its various subsidiaries including narrow-moat President Chain Store and no-moat Uni-President China. A key focus was its growth strategies for Uni-President China. We keep our fair value estimates unchanged for the three companies and retain our view that Uni-President China’s current strategies could support high-single-digit sales growth for 2023, but we remain cautious over it continuing such growth rates in the medium term. 7-Eleven in the Philippines is considered a key medium-term growth driver for President Chain Store, consistent with our view.
The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.