China's ANTA Sports hits 4-month peak on higher profit, dividend

Anta Sports Products

26/03/2024 06:26

** Shares of China's home grown sportswear group ANTA Sports
Products  2020.HK  rise 3.8% to HK$84.10, their highest since
Nov 21, and on course for a second session of gain
    ** Stock marks the biggest one-day pct gain since March 12
    ** Co says its 2023 net profit up 44.9% YoY to 10.95 bln
yuan ($1.52 bln) with revenue up 16.2% YoY to 62.36 bln yuan and
co proposes a final dividend of HK$1.15 per share, compared with
HK$0.72 each in the previous year
    ** Jefferies says ANTA's 2H23 earnings likely came in higher
than the latest market consensus and the beat is driven by
expanding profitability at operating segments including ANTA
brand and Fila 
    ** Hang Seng Consumption Index  .HSCGSI  climbs 0.8%, Hang
Seng Composite Index  .HSCI  gains 0.4% and Hang Seng Index
 .HSI  adds 0.6%
    ** Stock up 9.1% YTD  
    ($1 = 7.2171 yuan)

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