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Market Movement | Wanzhou International Rises Over 50% Post-Earnings
WH Group (00288) reported an 8% increase in profit last year. After announcing the results, the stock price rose over 50%, with a maximum increase of 6.8%, reaching a high of HKD 10.05.
As of 11:12 a.m., the stock was at HKD 9.94, up 5.6%, with a turnover of HKD 191 million.
The company announced that as of the end of December last year, its full-year pre-asset fair value adjustment attributable to shareholders was HKD 1.591 billion (USD), an 8.16% increase year-on-year; basic earnings per share were 12.4 cents; and a final dividend of HKD 0.41 was declared.
During the period, revenue was HKD 28.026 billion, up 8.04% year-on-year, mainly due to increased pork sales volume and higher average selling prices of meat products. Meat product sales volume decreased by 1.5%, while pork sales volume increased by 8.6%. Operating profit was HKD 2.612 billion, up 8.7% year-on-year, mainly due to a significant rise in profit margins from the pork business.