(Original title: VITASOY INT’L (00345) released its annual results, the profit attributable to shareholders was HK$46 million year-on-year, and the final dividend was proposed to be 1.4 Hong Kong cents per share)
Zhitong Finance APP News, VITASOY INT’L (00345) announced its annual results for the year ended March 31, 2023. In the 2022/2023 financial year, after excluding the impact of exchange rates, the group resumed profitability and revenue growth. The company will continue to improve sales execution and expand product sales channels, aiming to maintain profitable growth in the 2023/2024 financial year. After excluding the impact of exchange rates, the Group’s revenue increased by 2%, but due to the depreciation of the Renminbi and the Australian dollar, it fell slightly by 2% in Hong Kong dollars.
During the year, the company achieved an operating profit of HK$104 million, compared with a loss of HK$213 million last year, despite high raw material prices and high utility costs. This was mainly attributable to the effective cost control and the promotion of the business in Mainland China, as well as the increase in government subsidies received by the Hong Kong business compared with last year. The company also adopted specific pricing measures to ease the pressure of rising raw material prices.
Gross profit for the year was HK$3.012 billion, down 2%. Gross profit margin increased from 47% to 48%. The profit attributable to the company’s equity holders was HK$46 million, compared with a loss of HK$159 million last year. A final dividend of HK1.4 cents per share is proposed.