Luk Fook Holdings Reports Soaring Profits

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

Luk Fook Holdings (International) Limited has issued a positive profit alert, announcing an expected profit increase of 30% to 40% for the fiscal year ending March 31, 2024, which exceeds HK$1.7 billion. This surge is due to improved retail sentiment following border reopenings and a significant one-off gain from the acquisition of Hong Kong Resources Holdings Limited. However, the company cautions that the preliminary financial data is subject to final adjustments, with the official annual results to be disclosed on June 28, 2024.

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