Why Investors Were so hot on Miniso Stock This Week
Asian goods retailer Miniso (NYSE: MNSO) was a popular item for investors this week. Over the five days the market was open, the Chinese company's U.S. shares climbed almost 16% higher, according to data compiled by S&P Global Market Intelligence. One specific event provided the catalyst for this leap.
That event was the release of Miniso's fourth-quarter earnings report, which featured growth numbers that were well in the double digits.
Revenue, for one, rose 54% year over year to hit 3.84 billion yuan ($534 million). Another big jumper was, happily for the company and its shareholders, non-IFRS (adjusted) net income. This also improved dramatically, advancing by 77% to just under 661 million yuan ($92 million).
Source Fool.com
