HK-listed tissue maker Vinda hits 7-week high on solid H1, higher dividend

Vinda International Holdings

18/07/2019 03:22

** Shares of Vinda International Holdings Ltd  3331.HK  rise
as much as 5.9% to HK$14.3, highest since May 28
    ** Tissue and personal care products maker posts 5.4% rise
in H1 profit and 7.6% growth in revenue  urn:newsml:reuters.com:*:nFWN24I0RV
    ** Gross margin in Q2 at 30%, up 3.7 percentage points from
that in Q1
    ** Co declares interim dividend of HK$0.07 per share, up
from HK$0.06 a year ago 
    ** Says H2 business prospect will be favoured by stabilising
wood pulp price and an increasing household disposable income,
which will drive demand for high-quality products
    ** Co has current market value of HK$16.9 bln ($2.2 bln) 
    ** As of Wednesday's close, stock had risen 9.6% this year
    ** Vinda has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 7 percentage points in the past
month
    ** The Hang Seng sub-index tracking consumer goods companies
 .HSCICG  eases 0.5%
    ** The Hang Seng China enterprises index  .HSCE  falls 0.8%,
and the benchmark index  .HSI  slides 0.7%
($1 = 7.8123 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)