by winston » Tue Sep 02, 2014 5:53 am
not vested
b]Spill for juice maker[/b]
Huiyuan Juice Group (1886) is banking on the international market, including Hong Kong, to boost sales after its disappointing first-half results.
It also said chief executive Daniel Saw was leaving.
Huiyuan shares slumped nearly 10 percent to HK$3.03 yesterday after interim results were released and the resignation announced.
Net profit dived more than 80 percent to 20.5 million yuan (HK$25.85 million) from a year earlier, reflecting weaker sales.
Sales of "100% juice," nectars and other products slipped 4.7 percent from the first half of last year to 1.97 billion yuan.
Saw will be succeeded by vice president Yu Hongli, effective next month.
The company is looking to expand its international presence. Its concentrate brand, 100% juice, is expected to hit Hong Kong and Macau shelves in October. Global business manager Li Fengshuo said it also plans to tap Indonesia and Malaysia.
Furthermore, it will introduce European and US brands to the mainland, to shore up its product mix.
The firm pledged to lift its gross profit margin, which dipped to 29.4 percent in the first half, back to 30 percent in the second half, by slashing overheads and boosting sales.
Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"