0703 GMT - Miniso Group's 3Q revenue likely rose 20% on year, thanks to strong growth in overseas markets, Citi analysts write in a note. Citi expects Miniso stores' overseas sales to have expanded significantly due to overseas distributors' re-stocking demand, especially ahead of the holiday season in 4Q, they add. The company's gross profit margin likely widened further during the period on higher sales contribution from IP merchandise, they say. Citi maintains a buy rating on the stock with a target price of HK$52.20. Shares are last at HK$33.75. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
October 22, 2024 03:03 ET (07:03 GMT)
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