China Dongxiang Announces FY2023/24 Interim Results, Distributes Interim Special Dividend of RMB0.71 cents per share, Accumulative Payout Ratio Totalled 72%
Outstanding Offline Sales Performance for Kappa, Apparel Business Achieved Turnaround in Operating Profit
Results Highlights- Revenue amounted to RMB776 million, remained stable as compared with previous year;
- Gross profit amounted to RMB536 million, representing an increase of 10.7% YoY; Gross profit margin increased YoY by 6.7 percentage points to 69.1%;
- Operating profit excluding investment segment was RMB75 million, representing a strong growth as compared to operating loss of RMB24 million in the corresponding period;
- The Board of Directors has decided to distribute an interim special dividend of RMB0.71 cents per ordinary share for the 6 months ended 30 September 2023, accumulative payout ratio since listing is 72%;
- Net inventory value amounted to RMB358 million, a decrease of 19.9% YoY;
- Kappa recorded growth in overall turnover as well as same-store efficiency;
- Kappa will strive to improve efficiency of key stores and close stores with low efficiency to build high-quality stores across the country.
