HK-listed L'Occitane hits 5-1/2 year high boosted by strong sales growth

L'Occitane International SA

27/01/2021 02:26

** Shares of cosmetics and skin care products maker
L'Occitane International SA  0973.HK  surge as much as 16.3% to
HK$22.40, their highest since July 2015
    ** Stock, last up 13.7%, is poised for its best day since
listing in May 2010; ninth biggest percentage gainer among
companies listed on the Hong Kong bourse 
    ** L'Occitane says its sales momentum continued to improve
in three-months ended in December with overall growth of 4.3% at
constant rates, with online channels growing 62.1% amid
tightened restrictive measures in some countries  urn:newsml:reuters.com:*:nFWN2K10H7
    ** Says China, Japan, UK, Russia and Taiwan drove overall
growth during Oct-Dec quarter with sales growth at constant
rates of 28.9%, 10.6%, 11.5%, 11.8% and 14.7%, respectively
    ** Brokerage Nomura maintains "buy" on the stock and raises
PT to HK$22.5 from HK$21.1 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slides 0.8%, while the benchmark index  .HSI  edges up 0.1%

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