Analyst

Steve Zhou, CFA

15 years of experience in both buy and sell-side in Asia.

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Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/l-occitane-international-sa" target="_blank" data-smartkarma-citation="entities:6772:1" rel="noopener">L'Occitane (973 HK)</a> reported FY1H24 (fiscal year ending March 31) results yesterday after market, with net profit down 45% yoy. </li>
<li>The sharp drop in earnings is mainly due to a 48% yoy increase in marketing costs, as well as increased finance costs.</li>
<li>The company maintained the FY24 outlook of 17% topline growth and an operating profit margin of 12% (FY1H24:  7.2%). </li>
</ul>



L'Occitane (973 HK) reported FY1H24 (fiscal year ending March 31) results yesterday after market, with net profit down 45% yoy. 
The sharp drop in earnings is mainly due to a 48% yoy increase in marketing costs, as well as increased finance costs.
The company maintained the FY24 outlook of 17% topline growth and an operating profit margin of 12% (FY1H24:  7.2%). 


L'Occitane (973 HK):  FY1H24 Earnings Hurt By Massive Increase In Marketing, As Expected