HK's footwear retailer S. Culture Int'l hits all-time high; co sees turnaround in results

TATA Health International Holdings

13/03/2019 02:33

** Shares of S. Culture International Holdings Ltd  1255.HK 
jump as much as 21.5 pct to an all-time high at HK$11.30, after
the footwear products trader expects a turnaround of its results
    ** Co says it expects to record a net profit for 2018,
compared with a net loss in the previous year, due to reduced
loss in retail business as it closed down low performing retail
outlets  urn:newsml:reuters.com:*:nFWN20Z0CM
    ** Co says a substantial decrease in loss attributable to
owners of the company, gain from sale of properties and profit
contribution from its newly acquired business also aid
performance 
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  falls 1.1 pct, while the benchmark index
 .HSI  eases 0.7 pct
    ** As of last close, S. Culture stock had risen 295.7 pct so
far this year
    ** S. Culture has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 153.9 percentage points in the
past one month
    ** Co says apart from the expected improvement in 2018
results, it is not aware of any reasons for the increase in
price and trading volume 

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))