Vinda International 3331

Re: Vinda International 3331

Postby winston » Fri Jul 20, 2018 6:17 am

Vinda profit not to be sneezed at

by Avery Chen

Vinda International Holdings (3331), a tissue manufacturer, said its unaudited interim net profit rose 30.1 percent in the six months to the end of June to HK$417 million, while total revenue grew 16.3 percent to HK$7.3 billion.

The company proposed an interim dividend of six HK cents per share, while basic earnings per share saw a 26.9 percent growth at 34.9 HK cents.

Vinda's gross margin slipped 0.8 percent year on year to 29.7 percent.

Vicky Tan Yi-yi, chief financial officer and company secretary, said the decline of gross margin was mainly driven by rising wood pulp costs. However, the figure in the second quarter this year rebounded 31 percent. She is confident of stable growth in the future.

Looking forward, Tan said the company will see the market reaction to rising product prices, then adjust its future strategy.

Commenting on the yuan's depreciation, Tan said that the cost of raw materials will be affected, as the company mainly uses the US dollar for purchasing. Tan added that Vinda still has a four months' inventory of raw materials.

Tan pointed out that mainland deleveraging has tightened the financing environment, but the company's liquidity is sufficient for business development as it still has a HK$7 billion loan quota.

Source: The Standard ... 0720&sid=2
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