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Best Mart 360's Fiscal H1 Profit Declines 36% Despite Revenue Hike

MT Newswires ·  {{timeTz}}

02:48 AM EST, 11/29/2021 (MT Newswires) -- Best Mart 360 Holdings (HKG:2360) said its profit attributable to owners in the six months ended Sept. 30 slumped 36.4% to HK$22.7 million ($2.9 million) from HK$35.7 million from a year-ago period.

Earnings per share fell to HK$0.023 from HK$0.036, according to a Friday bourse filing.

The supermarket operator attributed the profit drop to an absence of subsidy worth HK$21.2 million that was granted by the Hong Kong and Macau governments a year earlier.

Revenue, however, soared 21.7% to HK$863 million from HK$709.4 million, owing to the company's expansion strategy and product mix optimization.

The board recommended an interim dividend of HK$0.015, lower than HK$0.02 a year earlier, it added.

Shares dropped over 1% recently.

Price (HKD): $1.63, Change: $-0.02, Percent Change: -1.21%

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