What happened
Miniso Group (MNSO 6.35%) closed out its fiscal 2023 in style, with an earnings report that delivered solid growth while trouncing analyst estimates. After the company published those results on Tuesday, investors piled into the quirky China-based retailer's stock. According to data crunched by S&P Global Market Intelligence, it was up by 14% in price week to date as of mid-afternoon Thursday.
So what
For its fourth quarter of that fiscal year, Miniso's revenue was a bit over 3.25 billion yuan ($449 million). This bettered the Q4 2022 figure by 40%. Non-IFRS (adjusted) net income also headed well higher, increasing a mighty 156% to hit 571 million yuan ($79 million), or 1.80 yuan ($0.25) per each of the retail company's American depositary shares (ADS).
Miniso easily topped analyst forecasts with that performance. The consensus-revenue estimate from those professionals was 3.16 billion yuan ($437 million), while for per-ADS adjusted net profit, it was 1.58 yuan ($0.22).
Management attributed several factors to its better-than-expected growth. It quoted its founder and CEO Guofu Ye as saying that,
In spite of the short-term headwinds and uncertainties brought by the macro environment, we remained focused on our long-term strategic goals: delivering on our globalization strategy, bolstering the strength of our product offerings and optimizing our store network.
Now what
Another reason for the bullish investor reaction is that Miniso declared its latest dividend from fiscal 2023's annual earnings. It is aiming to pay shareholders at least 50% of this; to that end, it declared a per-share distribution of slightly over $0.41 per ADS. This is to be handed out on Sept. 19 to investors of record as of Sept. 7. At the current ADS price, it would yield 1.8%.
