Restaurant operator Ajisen hits near 7-month high on FY profit outlook

Ajisen (China) Holdings

05/03/2024 05:29

** Shares of noodle restaurant operator Ajisen (China)
Holdings Ltd  0538.HK  jump 13.6% to HK$1.17, their highest
since Aug. 14
    ** Stock on track for the biggest one-day pct rise since
December 2020, if gains hold
    ** Co, which sells Japanese ramen, estimates its 2023 net
profit to be in the range of 160-220 million yuan ($22.2-$30.6
million) as compared to a net loss of 143.9 million yuan in 2022
    ** Co says shop revenue growth and as it shuts down
underperforming shops improves the overall profitability 
    ** Hang Seng Consumption Index  .HSCGSI  falls 2.2%, Hang
Seng Composite Index  .HSCI  falls 2.1% and Hang Seng Index
 .HSI  down 2.2%
    ** Stock up 15.3% YTD 


($1 = 7.1980 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))