Lufax Holding Swings to Q2 Loss as Total Income Plunges

MT Newswires Live08-22

Lufax Holding (HKG:6623) swung to an attributable loss of 792.1 million yuan in the second quarter from a profit of 965.3 million yuan in the year-ago period, according to a Thursday filing with the Hong Kong Stock Exchange.

The financial services company swung to a loss per share of 0.69 yuan from EPS of 0.84 yuan. Analysts at Visible Alpha estimated EPS of 0.58 yuan for the period.

Total income plunged to 5.98 billion yuan from 9.27 billion yuan. Visible Alpha analysts estimated revenue of 6.28 billion yuan.

For the first half, the company swung to a loss of 1.66 billion yuan from a profit of 1.64 billion yuan. Loss per share was at 1.45 yuan compared with EPS of 1.43 yuan.

Total income during the first half slid to 12.94 billion yuan from 19.35 billion yuan. Analysts at Visible Alpha forecast revenue of 13.2 billion yuan.

Price (HKD): $10.88, Change: $+0.12, Percent Change: +1.12%

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