HK-listed sofa maker Man Wah surges most in 4 weeks on strong results

Man Wah Holdings

16/05/2022 07:00

** Shares of sofa maker Man Wah Holdings Ltd  1999.HK  surge
6.6% to HK$7.30, their biggest daily percentage gain since April
14, if gains hold
    ** Stock hits the highest since May 6, rising for the second
session;
    ** Co says its revenue for year ended in March jumped 28.6%
year-on-year to HK$21.78 bln ($2.77 bln) with net profit surging
16.8% to HK$2.25 on increasing market share and turnover of its
products in the Chinese market  urn:newsml:reuters.com:*:nFWN2X525K
    ** Co, with market value HK$28 bln, declares a final
dividend of HK$0.17 per share to shareholders, up from a final
dividend of HK$0.16 each a year ago
    ** Says it will increase its production lines and expand
plants to increase its capacity   
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.4%, and Hang Seng consumer goods and services index  .HSCGSI 
rises 0.6%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs 0.5%
and the benchmark Hang Seng Index  .HSI  is up 0.3%    

($1 = 7.8499 Hong Kong dollars)

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