Sales beats as new markets continue to succeed

28 Mar 2024 CMB International Global Markets | Equity Research | Company Updates DPC Dash (1405 HK) BUY (Maintain) Sales beats as new markets continue to succeed Target Price HK$73.05 (Previous TP HK$75.51) Up/Downside +25.2% While the FY23 results of DPC Dash (DPC) were roughly inline, we do find its GP Current Price HK$53.50 margin and sales per store growth very decent and should support a better outlook in FY24E. DPC remains our top pick in the catering sector, thanks to its China Catering Sector value ...