Luk Fook Holdings Posts Strong Annual Growth

Luk Fook Holdings (International) (HK:0590) has released an update.

Luk Fook Holdings (International) reports a robust annual performance with a revenue surge of 28% to HK$15.3 billion, driven by strong retail sales, particularly in gold products, amidst the full reopening of borders with Hong Kong, Macau, and Mainland China. Operating profit jumped by 34.2% to HK$2.12 billion, with the profit attributable to equity holders climbing by 37.6% to HK$1.77 billion, marking the second highest in the company’s history. The company also announced an increased annual dividend of HK$1.41 per share, reflecting a payout ratio of 47%.

For further insights into HK:0590 stock, check out TipRanks’ Stock Analysis page.