Goodbaby Intl (01086.HK) announced that the group is expected to record a net profit of approximately HKD 160 million to HKD 200 million for the six months ending June 30, 2024, while the net profit for the same period in 2023 was approximately HKD 29.9 million.
The board of directors believes that the increase in net profit is mainly due to the growth of gross profit, which is mainly attributed to the growth of revenue, favorable brand revenue combination, improvement of brand profit margin and gross margin improvement brought by the decrease of input cost. The increase in revenue leads to the partial offset of the effect caused by the increase in sales expenses, the decrease in forex income caused by exchange rate fluctuations, and the increase in income tax expenses.
