By Ronnie HaruiHaidilao International's shares jumped Monday after it guided for a surge in first-half net profit. "The expected profit is mainly attributable to the increase in table turnover rate and the enhanced restaurant operation efficiency as a result of the improvement of internal management and operation," Haidilao International said in the filing. Net profit margin was 11.7% for the first half of 2023, Jefferies analysts said in a research report. The better-than-expected net profit margin stemmed from operating efficiencies and to a lesser extent, foreign-exchange gains, the analysts added. Write to Ronnie Harui at ronnie.harui@wsj.com(END) Dow Jones NewswiresJuly 30, 2023 22:33 ET (02:33 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal July 31, 2023 08:36 UTC