Credit Lyonnais downgrades Cafe de Coral rating to ¡§sell¡¨

Credit Lyonnais pointed out in the report that it was doubtful whether Cafe de Coral Holdings (0341) could see double-digit increase in its profit, for it faced the disadvantaged operation surroundings in Hong Kong and faced the pressure of increasing cost. As a result, the fund house downgraded the investment rating of Cafe de Coral to ¡§sell¡¨ and forecasted its target price to be HK$3.13, circa 6.56 times of the price/earnings ratio. Moreover, the fund house estimated the net profit of Cafe de Coral to late next March to be HK$264 mln, merely up 3.94%.

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