HK-listed L'Occitane sinks to 3-year low as profit drops

L'Occitane International SA

29/11/2023 03:47

** Shares of L'Occitane International SA  0973.HK  drop as
much as 15.1% to HK$16.64, lowest since November 2020
    ** Stock to mark the biggest one-day pct fall since Sept. 5,
if trend holds; third biggest pct decliner in Hang Seng
Composite Index  .HSCI  
    ** The beauty and well-being products maker and retailer
said its first half net profit for six months ended in September
dropped 45% YoY to EUR34 mln while net sales up 18.8% to EUR1.07
bln 
    ** Co remains cautiously optimistic about its prospects in
second half while marketing investments will weigh on profit
margins   
    ** Hang Seng Composite Index  .HSCI  eases 0.6%, while Hang
Seng Consumption Index  .HSCGSI  and Hang Seng Index  .HSI  both
fall 1.8%
    ** Stock down 26.8% YTD 
($1 = 0.9092 euros)

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