China's Laopu Gold half-year revenue rises 60%
China's Laopu Gold half-year revenue rises 60%
Overview
China gold jewelry maker's half-year revenue rose 60% yr/yr to RMB 19.8 bln
Non-IFRS adjusted net profit grew 84% yr/yr to RMB 4.3 bln
Company cites higher sales and improved gross profit margins for earnings growth
Outlook
Company did not provide specific financial outlook
Result Drivers
HIGHER SALES - Co said increased sales volumes contributed to revenue and profit growth
IMPROVED GROSS MARGINS - Co said improved gross profit margins helped drive earnings growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| RMB 19.81 bln |
|
H1 Adjusted Net Income |
| RMB 4.27 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 1 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy"
Wall Street's median 12-month price target for Laopu Gold Co., Ltd. is HK$580.30, about 48.9% above its August 25 closing price of HK$389.80
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)