Stock Track | 361 Degrees Shares Surge 5% After Reporting Strong H1 Results

Stock Track08-12

Shares of 361 Degrees International Limited (HKG:01361) surged 5% in intraday trading on Monday, following the release of the company's financial results for the first half of 2023.

The Hong Kong-listed sportswear company reported a significant increase in attributable profit, which rose to 789.7 million yuan ($112.3 million) in the first half, up from 703.6 million yuan in the same period last year. Earnings per share also grew to 0.3819 yuan from 0.3403 yuan in the previous year.

361 Degrees' revenue for the first six months of 2023 climbed to 5.14 billion yuan ($730.6 million), representing an increase of 19.3% compared to the 4.31 billion yuan reported in the first half of 2022. The company also declared an interim dividend of HK$0.165 per share, payable on September 9th.

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