UAE's Lulu Retail gains on firm Q2 earnings, exceeding dividend target

About this update from Lulu Retail Holdings Plc

** Lulu Retail Holdings ADX:LULU rises as much as 3.3% to 1.25 dirhams; among top gainers on Abu Dhabi benchmark index ADX:FADGI, which is flat** Largest pan-GCC hypermarket retailer posts Q2 net income of $57 mln, up 1.8% y/y; revenue jumps 4.6%** Co's board declares H1 dividend of 3.5 fils/share - representing 78% of H1 profits, surpassing its 75% target payout ratio** Stock rated "buy" on avg; median PT is 1.8 dirhams, per data compiled by LSEG** YTD, LULU falls 34.2% vs FTFDAGI's 9.3% rise

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