HK Stock Market Move | TOPSPORTS(06110) fell nearly 4%, UBS expects its revenue and net profit to decrease by 7% and 38% respectively in fiscal year 2025.

TOPSPORTS (06110) fell by nearly 4%, reaching a drop of 3.82% at the time of the report, at HK$2.77, with a turnover of HK$31.9521 million. On the news front, TOPSPORTS previously announced that in the third quarter of the 2024/25 fiscal year, the total sales amount of the group's retail and wholesale business showed a slight decrease in the mid-single digits year-on-year, with a narrowing decline in the low double digits compared to the previous quarter. As of November 30, 2024, the gross sales area of directly operated stores decreased by 2.1% compared to the end of the previous quarter, and decreased by 4.4% compared to the same period last year. UBS previously reported that it has lowered its earnings per share forecast for TOPSPORTS for the years 2025 to 2027 by 24% to 40%, to reflect sales pressure and higher sales discounts. The bank expects the group's revenue and net profit for the 2025 fiscal year to decline by 7% and 38% respectively, close to the company's guidance, while revenue and net profit for the 2026 fiscal year are expected to increase by 3% and 20% respectively. UBS has lowered its target price from HK$6.6 to HK$3.6, and reiterated a "buy" rating.