Fufeng Expects Profit Growth in H1; Shares Gain 10%
MT Newswires Live
Jul 22
Fufeng Group (HKG:0546) expects its net profit for the six months ended June 30 to rise by about 700 million yuan from 1.04 billion yuan in the same period last year, according to a Monday Hong Kong bourse filing.
Shares rose more than 10% in Tuesday morning trade.
The expected gain in profit was driven by higher sales volumes of key products and a decline in major raw material costs, the company said.
Fufeng warned that geopolitical tensions, trade policies, and sluggish external demand could weigh on performance in the second half.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.