Chevron Holdings (HKG:2285) expects a net profit of about $100 million for the nine months ended September 30, a more than 300% increase compared with $23 million in the prior year, according to a Tuesday filing with the Hong Kong bourse.
The company attributed the increase in profitability to better gross profit margins, strong point-of-sale performance by their flag brand Ego, and higher revenue overall.
The outdoor power equipment supplier's stocks were up by 13%.
Price (HKD): $21.55, Change: $+2.3, Percent Change: +11.66%
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