MINISO Q4 Earnings Top Estimates On Overseas Business Recovery - MINISO Group Holding (NYSE:MNSO)

MINISO Group Holdings Ltd MNSO reported a fourth-quarter FY22 sales decline of 6.3% year-on-year to RMB2.32 billion ($346 million), beating the analyst consensus of $338.22 million.
Gross profit increased 20.8% Y/Y to RMB771.9 million ($115.2 million). The gross margin was 33.3% versus 25.8% last year.
Operating income for the quarter was RMB272.1 million ($40.6 million).
The number of MINISO stores increased by 450 in the quarter to 5,199 as of June 30, 2022.
It reported Adjusted earnings per ADS of $0.11, which beat the consensus of $0.07.
The resurgences of the Omicron variants of COVID-19 continued to impact the company's operations and results in the quarter.
MNSO's board recently approved a special cash dividend of $0.172 per ADS, payable on September 9, 2022, to the holders of ADSs of record on August 31, 2022.
Related: MINISO Group Board Approves Special Cash Dividend
The company held $870.1 million in cash and equivalents as of June 30, 2022.
"Looking forward to the 2023 fiscal year, we are still optimistic about future revenue and profit growth despite continued uncertainty from the pandemic," said Guofu Ye, Founder, Chairman, and Chief Executive Officer of MINISO.
MNSO expects its bottom line performance to further normalize in the coming quarters.
Price Action: MNSO shares are trading higher by 3.28% at $6.30 in premarket on the last check Thursday.