HKG:0341

Jefferies Upgrades Café de Coral to Buy from Hold; Adjusts Price Target to HK$6.60 from HK$5.15

Café de Coral's Annual Profit Falls 30%, Final Dividend Declared; Shares Rise 16%

Café de Coral (HKG:0341) recorded an attributable profit of HK$164.1 million for the year ended March 31, down 30% from HK$232.7 million a year prior, according to a Monday Hong Kong bourse filing.Earnings per share fell to HK$0.29 from HK$0.40 in the previous fiscal year.Revenue slipped 4.5% to HK$8.18 billion from HK$8.57 billion.The company recommended a final dividend of HK$0.30 per share, payable Sept. 4 to shareholders on record as of Aug. 26, subject to shareholder approval.Shares of the restaurant operator rose 16% in recent trade.