External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>LuLu reported preliminary results with 4Q24 earnings from continuing operations of USD65mn, down 38% YoY (+84% QoQ, Lower than estimates) </li><li>LuLu announced 2H24 dividend of USD84.4mn (3fils per share), implying a payout ratio of 85%</li><li>Group opened nine new stores in 4Q24 taking the total number of new store rollouts to 21 in 2024. Overall, for FY24 Lulu posted a revenue of USD7.6bn,up 4.7% YoY, below the full year guidance of 8-10%</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

LuLu reported preliminary results with 4Q24 earnings from continuing operations of USD65mn, down 38% YoY (+84% QoQ, Lower than estimates) LuLu announced 2H24 dividend of USD84.4mn (3fils per share), implying a payout ratio of 85%Group opened nine new stores in 4Q24 taking the total number of new store rollouts to 21 in 2024. Overall, for FY24 Lulu posted a revenue of USD7.6bn,up 4.7% YoY, below the full year guidance of 8-10%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

LuLu Retail Holdings  (LuLu) - 4Q24 Earnings* Down 38% YoY (+84.4% QoQ) To USD65mn

Lulu Retail Holdings

LuLu Retail Holdings (LuLu) - 4Q24 Earnings* Down 38% YoY (+84.4% QoQ) To USD65mn