BUZZ-China's ANTA Sports falls on drop in FY profit margin

Reuters

03-19

BUZZ-China's ANTA Sports falls on drop in FY profit margin

** ANTA Sports Products 2020.HK slides as much as 7.4% to HK$94.35; set for biggest one-day pct decline since October 14, 2024

** Chinese home-grown sportswear group's overall operating profit margin falls to 23.4% in 2024 from year-ago 24.6% on increased investment in branding, channels and product R&D

** Operating profit misses market expectations

** However, co's 2024 rev up 13.6% y/y, profit attributable up 7.1% y/y

** Stock up 26.2% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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