Re: Vitasoy International 0345
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Vitasoy's profit surges 155pc as mainland market recovers
Vitasoy International's (0345) net profit surged 155 percent to HK$116 million for the year ending in March from a year ago, thanks to the strong recovery in mainland China.
It declared a final dividend of 6.3 HK cents per share, 350 percent higher than a year earlier. Together with the interim dividend, the total dividend for the year came in at 7.7 HK cents.
Total revenue dipped 2 percent to HK$6.22 billion during the year amid the weakening yuan and Australian dollar. If the currency impact is excluded, its revenue would have risen 1 percent over the previous year.
Gross profit margin increased 2.5 percentage points to 50 percent.
Profit from mainland operations surged 402 percent in local currency terms, driven by higher pricing, efficient promotions and effective control of operating expenses.
Vitasoy's Hong Kong businesses increased by 3 percent in profits during the period. If excluding Covid-related government subsidies, profit from local operations would have grown 42 percent thanks to efforts in reducing material and production costs.
Its Australia and New Zealand operations saw declining revenue and recorded an operating loss of AU$16 million (HK$83.3 million) due to an out-of-stock situation partly arising from logistics issues.
Source: The Standard
https://www.thestandard.com.hk/section- ... t-recovers
Vitasoy's profit surges 155pc as mainland market recovers
Vitasoy International's (0345) net profit surged 155 percent to HK$116 million for the year ending in March from a year ago, thanks to the strong recovery in mainland China.
It declared a final dividend of 6.3 HK cents per share, 350 percent higher than a year earlier. Together with the interim dividend, the total dividend for the year came in at 7.7 HK cents.
Total revenue dipped 2 percent to HK$6.22 billion during the year amid the weakening yuan and Australian dollar. If the currency impact is excluded, its revenue would have risen 1 percent over the previous year.
Gross profit margin increased 2.5 percentage points to 50 percent.
Profit from mainland operations surged 402 percent in local currency terms, driven by higher pricing, efficient promotions and effective control of operating expenses.
Vitasoy's Hong Kong businesses increased by 3 percent in profits during the period. If excluding Covid-related government subsidies, profit from local operations would have grown 42 percent thanks to efforts in reducing material and production costs.
Its Australia and New Zealand operations saw declining revenue and recorded an operating loss of AU$16 million (HK$83.3 million) due to an out-of-stock situation partly arising from logistics issues.
Source: The Standard
https://www.thestandard.com.hk/section- ... t-recovers