周大福：1H earnings missed, 2H still under pressure

28 Nov 2024 CMB International Global Markets | Equity Research | Company Update Chow Tai Fook (1929 HK) 1H earnings missed, 2H still under pressure Chow Tai Fook (CTF) reported 1HFY25 (6 months ended Sep 2024) results with revenue down 20.4% YoY, in line with Bloomberg consensus estimates. NP dropped 44.4% YoY, 20% below consensus mainly due to weak consumer sentiment and fair value loss of gold loan due to gold price hikes. CTF announced a share buyback plan of HK$ 2bn on top of HK$ 0.2 per share dividend. ...