Luk Fook Holdings (International) (HK:0590) has released an update.
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Luk Fook Holdings reported a 27.2% decline in revenue to HK$5.45 billion for the six months ending September 2024, primarily due to decreased gold product sales amidst record-high gold prices. Despite a 4.9 percentage point increase in gross profit margin, the company faced a significant 55.7% drop in profits, attributed to a substantial loss from gold hedging. The firm announced an interim dividend of HK$0.55 per share, reflecting a 74% payout ratio.
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