[Featured Stock] Redcap Tour Rises 9% on Strong Q2 Performance

[Asia Economy Reporter Lee Seon-ae] Redcap Tour is showing strong performance in the early trading session on the 29th.

At 9:10 AM, Redcap Tour was trading at 20,500 KRW, up 9.04% compared to the previous trading day. After the market opened, the price surged to 22,850 KRW.

This is interpreted as a result of strong second-quarter earnings.

Redcap Tour announced that its second-quarter sales increased by 6.9% year-on-year to 63.4 billion KRW. Operating profit for the same period rose 53.6% to 10.1 billion KRW.

Im Sang-guk, a researcher at KB Securities, stated, “Due to an increase in business trip and event personnel among companies, sales increased by 154.3% year-on-year, and operating profit recovered to the breakeven point. Since May, the company has turned to a profit trend, and rapid normalization is expected.”

He added, “The second half of the year is a time when dividend stocks show their appeal,” and said, “The dividends per share for the past three years were 800 KRW in 2019, 600 KRW in 2020, and 800 KRW in 2021. This year’s strong performance atmosphere raises expectations for additional dividend increases.”