HK's Dickson Concepts near 5-year high on strong results

Dickson Concepts (International)

04/06/2019 04:55

** Shares of Dickson Concepts (International) Ltd  0113.HK 
rise as much as 3.6% to HK$4.30, the highest since September
2014, after the luxury goods retailer posts strong growth in
yearly earnings and declares higher dividend 
    ** Co posts 166% jump in profit to HK$403.8 mln ($51.5 mln)
for fiscal year ended in March with revenue rising 10.3% and
comparable store sales up 11.2% amid solid growth in retail
division and tight control in costs and expenses  urn:newsml:reuters.com:*:nFWN239081
    ** Hong Kong-based firm proposes a final dividend of HK$0.27
per share, bringing the total dividend for the year to HK$0.35
per share, up 52.2% from the previous year (https://bit.ly/2KvJcj8)
   
    ** Co says retail climate remains challenging amid slowdown
in Chinese tourist spending, and trade war between U.S. and
China, and it will adopt a cautious approach to its further
expansion and development strategies
    ** As of Monday's close, the stock has risen 8.6% so far
this year
    ** Dickson Concepts has outperformed the Hang Seng Commerce
& Industry Index sector  .HSNC  by 11.9 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  falls 1.6%, and the benchmark index  .HSI 
slides 0.4%

($1 = 7.8412 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)