Hong Kong's Cafe de Coral jumps on robust earnings estimate

Cafe De Coral Holdings

03/05/2024 04:13

** Shares of quick service restaurant chain operator Cafe De
Coral Holdings  0341.HK  jump 8.8% to HK$9.27, on course for the
biggest one-day pct rise since December 2022
    ** Stock hit the highest since Dec. 29; fourth-biggest pct
gainer on Hang Seng Composite Index  .HSCI  which is up 1%
    ** Co says it expects to record HK$330 mln ($42.3 mln) net
profit for year ended March 2024, a threefold jump from the
previous year, as mainland China business recovered
significantly and thanks to effective cost control in the Hong
Kong business
    ** Hang Seng Consumption Index  .HSCGSI  gains 0.8% and Hang
Seng Index  .HSI  adds 1.1%
    ** Stock up 2.1% YTD
    

($1 = 7.8114 Hong Kong dollars)

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