Stock Track | China Tobacco International Soars on Robust H1 Earnings Growth

Stock Track08-28

Shares of China Tobacco International (HK) (6055.HK) surged as much as 7.24% during intraday trading on Tuesday, following the company's strong first-half financial results that showed a significant jump in profitability.

According to a filing with the Hong Kong Stock Exchange, the tobacco products company reported a 41% year-over-year increase in attributable profit to 643.3 million yuan ($90.2 million) for the six months ended June 30. Revenue for the period grew 12% to 8.70 billion yuan, driven by higher sales volume and favorable pricing.

The robust earnings growth, coupled with an interim dividend payment of HK$0.15 per share, appears to have boosted investor confidence in the stock. China Tobacco International's shares closed 2.37% higher at HK$16.40 on Wednesday, outpacing the broader market.

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