Lam Soon (Hong Kong) Limited (HK:0411) has released an update.
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Lam Soon (Hong Kong) Limited reported a 5% decrease in annual revenue to HK$4,838 million for the year ended June 30, 2024, but saw a significant 135% increase in profit to HK$201 million, driven by improved gross profit margins from favorable commodity costs and sales mix. Despite market challenges, including Renminbi depreciation and shifting consumer behaviors post-COVID, the company has recommended a final dividend of HK$0.27 per share, resulting in a total annual dividend of HK$0.40 per share.
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