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Soochow Securities: The food and beverage sector is in a stage of low-to-medium-speed transformation, and the rebound of the sector is waiting for the clearance of the business performance risk of listed companies or the reversal of demand expectations.
The current valuation of the food and beverage sector is relatively low, primarily due to concerns about future cash flow and profit downgrades. Short-term market pessimism has had an impact on the sector, and the sector's rebound is awaiting clarification of listed company performance risks, or a reversal of demand expectations, the latter depending on proactive fiscal and monetary policies at the macro level or verification of seasonal sales at the middle level.
Four Seas Mercantile Posts Lower Attributable Profit in Fiscal 2024
Four Seas Mer (00374) will distribute a final dividend of 6.5 Hong Kong cents per share on September 25th.
Four Seas Mer (00374) announced that it will distribute a final dividend of 6.5 Hong Kong cents per share on September 25, 2024.
Four Seas Mer (00374.HK) annual net profit of HKD 34.657 million, a decrease of 14.9% year-on-year.
On June 28, Glorious Sun announced that in the fiscal year ending March 31, 2024, it achieved revenue of 3.898 billion Hong Kong dollars, a decrease of 6.1% year-on-year; gross profit of 912 million Hong Kong dollars, an increase of 3.7% year-on-year; and a net profit of 34.657 million Hong Kong dollars attributable to equity holders of the company, a decrease of 14.9% year-on-year; basic and diluted earnings per share were 9.0 Hong Kong cents. The Board of Directors recommended a cash dividend of 6.5 Hong Kong cents per common share at the end of the fiscal year. Despite the weak consumer market in Hong Kong during the review period, the group's performance was buoyed by a forward-looking strategy in its retail and wholesale businesses.
FOUR SEAS MER: ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 MARCH 2024
Four Seas Mer (00374.HK) is expected to have an annual profit of 32-37 million Hong Kong dollars.
On June 21, Globe Finance released an announcement that Four Seas Mer (00374.HK) expects to record a comprehensive surplus of HKD 32 million to HKD 37 million attributable to shareholders for the year ending March 31, 2024, while the previous year recorded a comprehensive surplus of approximately HKD 41 million attributable to shareholders. The decline in surplus was mainly due to the company's subsidiary, Miyata Co., Ltd. in Japan, not receiving a one-time refund of approximately HKD 39 million of net refundable tax from last year (the refund originated from excess tax paid in previous years) during the year.
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