MINISO Q4 Profit Climbs, Revenues Down; Says Optimistic About Growth In FY23

(RTTNews) - MINISO Group Holding Ltd. (MNSO), a Chinese value retailer of design-led lifestyle products, reported Thursday that its fourth-quarter profit attributable to equity holders was RMB204.84 million or $30.58 million, higher than last year's RMB114.99 million.

Earnings per American Depositary Share or ADS were RMB0.68 or $0.10 in this quarter, compared to RMB0.38 in the same period of 2021.

Adjusted net profit was RMB222.9 million or $33.3 million, representing an increase of 56.9 percent year over year. Adjusted earnings per ADS were RMB 0.72 or $0.11, compared to RMB0.48 a year ago.

Revenue was RMB2.32 billion or $346.0 million, down from RMB2.47 billion a year ago, primarily due to the negative influences by the resurgence of COVID-19 pandemic on the Company's domestic operations.

Guofu Ye, Founder, Chairman, and Chief Executive Officer of MINISO, said, "Looking forward to the 2023 fiscal year, we are still optimistic about future revenue and profit growth despite continued uncertainty from the pandemic. This positive outlook comes from our long-term confidence in China's economic development, our unchanged ambition for offline retail business, and our determination to achieve globalized development."

In Hong Kong, MINISO shares were trading at HK$11.60, up 2.65 percent.

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