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LH GROUP Announces 2019 Interim Results

Cautious Approach to Macro Challenges with Flexible Adjustment of Business Strategies in the Second Half of the Year
LH Group Limited
2019-08-28 00:49 7696

HONG KONG, Aug. 28, 2019 /PRNewswire/ -- LH Group Limited (1978.HK) announced its interim results for the six months ended 30 June 2019.

Due to the increase in the revenue from restaurant operations, the Group's revenue increased by approximately 11.7% to HK$520,018,000 during the Period. The increase was driven by, amongst others, an increase in the revenue from Asian cuisine restaurants -- franchised brands during the Period by approximately 38.3% to HK$283,432,000 as compared to that of the corresponding period of last year, making up an increase of approximately 54.5% from approximately 44.1% in the total revenue of the Group for the corresponding period of last year.

The profit attributable to the shareholders of the Company for the Period increased by approximately 1,214.0% to HK$39,669,000 from the level of the corresponding period of last year. Earnings per shares were HK4.96 cents. Such increase was mainly due to the fact that during the period (i) there was a one-off gain on disposal of subsidiaries of approximately HK$13,101,000; and (ii) there were no listing expenses incurred (2018: HK$8,027,000). If the said relevant factors are not taken into consideration, the profit attributable to the shareholders of the Company for the Period would be approximately HK$26,600,000, representing an increase of 140.5% from the level of the corresponding period of last year. The Board has declared an interim dividend of HK 4.96 cents per share (2018:Nil) for the Period, and a special dividend of HK5.00 cents per share.

Mr. Wong Kit Lung Simon, Chairman of LH Group Limited explained, the world is facing a complexity of macro risks arising from the ongoing trade negotiations, changes in the import tariff implemented by different countries and challenges alongside geopolitical uncertainties. These factors will probably impact both the local business environment and the consumer sentiment in the second half of the year. Correspondingly, the Group will implement a more cautious approach by closely monitoring the latest developments in order to make timely and flexible adjustments to our business as well as strategies and minimising any potential unfavourable impacts on our businesses according to the changes in the market.

Source: LH Group Limited
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