Stella International Holdings Limited reposted this
🌟 **Exciting News!** 🌟 Stella International Holdings Limited, a leading developer, manufacturer, and retailer of quality footwear and leather goods products, today announced its annual results for the year ended 31 December 2023. We're thrilled to share that we've exceeded expectations, well ahead of schedule, in meeting our operating margin and profit after tax CAGR targets outlined in our Three-Year Plan (2023 – 2025). Here are some key highlights: - Average selling price ("ASP) increased by 4.2% - Further enhancement of customer portfolio, led by Luxury and high-end Fashion categories - Rationalization of the Group's retail operation in Mainland China and exited all other physical points-of-sales worldwide - Gross profit margin expanded by 3.0 percentage points to 24.6% - Operating profit US$159.4m saw an increase of 18.2% year-on-year - Operating profit margin increased to 10.7% from 8.3% last year - Adjusted net profit increased by 23.5% to US$147.6 million - Strong net cash position of US$287.4 million (2022: US$206.1 million). About US$140.0 million is earmarked for delayed capacity expansion in Bangladesh and Indonesia - Declared final dividend of HK61 cents per share, representing a full-year dividend of HK103 cents per share (70% payout ratio based on adjusted net profit) We're also excited to push forward with capacity expansion plans in Indonesia and Bangladesh, reflecting our commitment to sustained growth and innovation. A huge thank you to our dedicated team and valued customers for their continued support. Together, we're shaping a brighter future for Stella! #StellaSuccess #Growth #Innovation #FinancialResults #2023 https://lnkd.in/gsmHDdV9 Learn more about open opportunities at Stella International: [https://lnkd.in/gQUq_qgu] 💼
