The Chinese homeware and accessories chain Miniso closed the first half of the year with an attributable net profit of 906 million yuan (108.6 million euros), 22.6% less than during the same period last year.
One of Miniso’s stores – Miniso
Miniso’s revenue totalled 9,393 million yuan (1,126 million euros), up 21.1% for the first half of the year. Revenue generated in China increased by 11.4% to 5,115 million yuan (613.4 million euros), while in international markets revenue rose by 21.5% to 3,534 million yuan (423.8 million euros). The business’ Top Toy brand contributed 742.1 million yuan (89 million euros).
Total expenses for operating, selling, distribution, administration, and other costs amounted to 7,847 million yuan (941 million euros), up 25.3%. In the second quarter alone, Miniso earned 489.7 million yuan (58.7 million euros) after achieving a turnover of 4,966 million yuan (595.5 million euros), 16.7% less and 23.1% more, respectively.
The multinational closed the half-year with 7,905 stores worldwide, 842 more outlets in twelve months; 4,305 of these stores are located in mainland China, 3,307 outside the country, and 293 are Top Toy stores.
“We are pleased that Miniso accelerated its growth in the quarter and that we achieved a double-digit improvement in operating profit, which exceeded our expectations,” said Miniso’s founder, chairman, and CEO Ye Guofu.
In addition, Miniso has declared an interim cash dividend of $0.0724 (€0.062) per ordinary share and $0.2896 (€0.25) per American Depositary Share payable on September 16 for the shares and on the 19th for the ADSs.
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