Miniso rises as China recovery, U.S. strength boosts Q3 revenue

MINISO Holding

16/05/2023 14:14

** U.S.-listed shares of China-based retailer Miniso Group
Holding Ltd  MNSO.N  up ~2% at $17.70 premarket
    ** Co posts higher revenue in Q3 helped by robust demand in
the U.S. and a sharp rebound in business in China 
    ** Q3 revenue jumps 26.2% to 2.95 bln yuan ($426.79 mln)
with total overseas revenue surging 55% to 800 mln yuan
    ** "Performance in the U.S. was particularly outstanding,"
CEO Guofu Ye says, adding it became MNSO's single largest
overseas market by revenue for two consecutive quarters
    ** Co says expects to exceed its goal of opening 250-350
stores in China in calendar year 2023 
    ** Gross margin in Q3 expands to 39.3% from 30.2%, a year
ago
    ** MNSO also reports a five-fold rise in profit to 470.9 mln
yuan in Q3
    ** Up to Monday's close, stock had risen 61.5% in 2023


($1 = 6.9121 Chinese yuan renminbi)

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))