HK-listed L'Occitane rises most in 10 weeks after solid sales growth

L'Occitane International SA

25/10/2023 03:35

** Shares of skincare specialist L'Occitane International SA
 0973.HK  rise 5.4% to HK$22.35, on course for biggest one-day
pct climb since Aug. 14, if gains hold
    ** Stock hits highest level since Oct. 12
    ** Co says sales reached 1.072 bln euro ($1.14 bln) for
FY2024 H1, up 24.9% YoY at constant rates, driven by brands Sol
de Janeiro and L’OCCITANE en Provence with recovering trend in
China  
    ** "We remain cautiously optimistic about our prospects for
FY2024 as we head into the important holiday and gifting
seasons" - André Hoffmann, vice-chairman & CEO of L’Occitane  
    ** The Hang Seng Consumption Index  .HSCGSI  rises 2.6% and
the Hang Seng Index  .HSI  up 2.2%
    ** Stock down 10.5% YTD 
    
($1 = 0.9440 euros)

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