Stock Track | EDA Group Soars on Robust H1 Earnings, Dividend Payout

Stock Track08-27

Shares of EDA Group Holdings (2505.HK) jumped 7.56% in intraday trading on August 26, 2024, after the company reported robust financial results for the first half of the year and declared an interim dividend.

In the six months ended June 30, EDA Group's net profit attributable to shareholders rose to 30.0 million yuan ($4.2 million), up 3.8% from 28.9 million yuan in the same period last year. Revenue surged 61.6% year-over-year to 745.4 million yuan, driven by strong performance across the company's business segments.

The solid earnings growth prompted EDA Group's board to declare an interim dividend of HK$0.035 per share, rewarding investors with a cash payout. The positive financial results and dividend announcement were met with enthusiasm from the market, propelling the stock to a 7.56% gain during the trading session.

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