Luk Fook Holdings (International) (HK:0590) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
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.
For further insights into HK:0590 stock, check out TipRanks’ Stock Analysis page.
