Navigating through tough conditions
- FY21 results in line with earlier profit warning; XBXB to record gross opening of 151 units in FY22
- 1Q22 foot traffic impacted by COVID-19, with 0.2x contraction in table turnover
- Earnings cut by 45%/16% in FY22/23F, TP cut to HK$5.90 and retain BUY