Stella’s First-Half Net Profit Surges 54% and Cash Balance Doubles
- Written by Viw Magazine
Board Approves Plan to Return US$180 million to Shareholders over Three Years in Addition to Normal Dividend
Highlights:- Shipment volume increased by 12.3%, led by Sports category
- Revenue increased by 7.5% to US$770.0 million
- Further enhanced customer portfolio
- Gross profit margin expanded by 2.7 percentage points to 25.8%
- Reported operating profit margin increased to 12.9% from 9.0% same period last year
- Adjusted net profit increased by 54.1% to US$92.9 million
- Strong net cash position reached US$326.1 million, compared to US$162.5 million as at 30 June 2023
- Declared interim dividend of HK65 cents per share, representing a dividend payout ratio of about 71.5% based on adjusted net profit
- Board resolves to return additional cash up to US$180 million in total for the next three years (2024-2026) to shareholders through a combination of share repurchases and special dividends, on top of paying regular dividends with a payout ratio of 70%
HONG KONG SAR - Media OutReach Newswire - 22 August 2024 - Stella International Holdings Limited ("Stella" or the "Group"; SEHK: 1836), a leading developer and manufacturer of quality footwear and leather goods products, today announced its interim results for the six months ended 30 June 2024.
