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

MINISO Holding

16/05/2023 15:14

(Updates)
    ** U.S.-listed shares of China-based retailer Miniso Group
Holding Ltd  MNSO.N  rise as much as 5.9% to $18.36
    ** 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
    ** MNSO also reports a five-fold rise in profit to 470.9 mln
yuan in Q3
    ** Shares last up ~3% at $17.85
    ** Stock has risen 67.9% so far in 2023


($1 = 6.9121 Chinese yuan renminbi)

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