Luk Fook Holdings (International) (HKG:0590) anticipates a 30% to 40% year over year rise in its profit to more than HK$1.7 billion for the year ended March 31, according to a Monday filing with the Hong Kong Stock Exchange.
The upbeat forecast is attributable to better retail performance after borders with Hong Kong, Macau, and China were reopened early in fiscal year 2023, and gains from a one-off measurement of about HK$200 million following the acquisition of Hong Kong Resources Holdings, the filing said.
The jewelry company plans to release full-year results on June 28.
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