Summary by Futu AI
China Tobacco Hong Kong (CTIHK) announced audited consolidated financial results for the year ended 31 December 2023, showing significant growth in the company's revenue, gross profit and profit for the year. Revenue increased 42% from HK$8,324,205 thousand in 2022 to HK$11,836,221 thousand; gross profit increased 35% from HK$806,389 to HK$1,088,324 thousand; and profit increased 49% from HK$464,160 thousand to HK$692,373 thousand. The Company's equity holders expected a 60% increase in profit for the year to HK$598,773 thousand. Earnings per share increased from HK$0.54 to HK$0.87. The Board of Directors proposes a final dividend of HK$0.32 per share, an increase of 60% year-on-year. The growth was mainly driven by growth in the tobacco product import business, the cigarette export business and the Brazilian operating business. Looking ahead, the company will continue to deepen market expansion and strengthen internal management to improve operational efficiency.