The company is said to be driven by strong sales performance, with the gross profit increasing by 19% to HK$1,922 million.
Hong Kong-listed soy milk and tofu manufacturer Vitasoy has acquired sustained growth and recorded an increase of 21% in revenue to HK$3,646 million for its interim results ended 30th September 2017.
The company is said to be driven by strong sales performance, with the gross profit increasing by 19% to HK$1,922 million. The gross profit margin was maintained at 53%.
Winston Yau-lai Lo, executive chairman of Vitasoy, stated that Mainland China was the key growth driver for the interim performance. The company focused on enhancing the brand equity, supported by strong marketing and in-store execution, and delivered a robust growth of 39% in revenue in the market.
Earlier in September this year, China’s General Administration of Quality banned 56 batches of Vitasoy products from importing through Shenzhen as they failed their quality and safety test category.
The company later explained that the banned products did not get any licence or permission from the group, and that its official business and product importation to China complied with all Chinese regulations.
Sales performance was complemented by a moderate sales increase in Hong Kong and steady growth in Australia and Singapore.
