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ANTA Sports Products Records 63% Jump in H1 Profit
2024-08-27 19:32
07:32 AM EDT, 08/27/2024 (MT Newswires) -- ANTA Sports Products (HKG:2020, HKG:82020) recorded a profit attributable to equity shareholders of 7.72 billion yuan for the six months ended June 30, up 62.6% from 4.75 billion yuan in the same period last year, a Tuesday filing with the Hong Kong stock exchange said.
Earnings per share stood at 2.68 yuan for the reporting period, compared with 1.70 yuan recorded in the year-ago period.
The sports equipment company's revenue for the first half of the year was 33.74 billion yuan, 13.8% higher than the 29.65 billion yuan booked a year ago.
The company attributed the increase to the simulation provided by the Paris 2024 Olympic Summer Games, growth of its e-commerce business, and the favorable policies boosting public demand in China.
The board recommended an interim dividend of HK$1.18 per share for the reporting period, higher than HK$0.82 for the same period in 2023. The dividend will be paid on or about Sept. 23, to the shareholders on record as of Sept. 10.
The company also intends to buy back its shares on the open market for up to HK$10 billion within 18 months starting from the date of the filing. The repurchase will be financed by the company's internal resources and the purchased shares will be cancelled.
Price (HKD): $71.65, Change: $+0.20, Percent Change: +0.28%
