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Nissin Foods Posts Steady Mid-Year Earnings
Nissin Foods announced its mid-term performance, with attributable net profit of approximately 0.169 billion Hong Kong dollars, a decrease of 1.3% year-on-year for shareholders.
Nissin Foods (01475) announced its mid-term performance for 2024, with revenues of approximately HKD 1.822 billion, a decrease of 5.5% year-on-year; the company's attributable net profit was approximately HKD 0.169 billion, a decrease of 1.3% year-on-year; earnings per share were 16.24 Hong Kong cents. The announcement stated that the decrease in revenue was mainly due to reduced consumption and the negative impact of foreign currency exchange between the Hong Kong dollar and the Renminbi.
Nissin Foods (01475.HK): Achieved a net profit of 0.169 billion Hong Kong dollars in the first half of the year.
On August 28th, Nissin Foods (01475.HK) announced that for the six months ended June 30, 2024, it achieved a revenue of 1.822 billion Hong Kong dollars, a year-on-year decrease of 5.5%; gross profit was 0.637 billion Hong Kong dollars, a year-on-year decrease of 3.2%; the company's net profit attributable to owners was 0.169 billion Hong Kong dollars, a year-on-year decrease of 1.3%; basic earnings per share were 16.24 Hong Kong cents. During the review period, the overall business of the group was relatively affected due to weakened consumer willingness. Revenue decreased by 5.5% to 1.822 billion Hong Kong dollars, mainly due to reduced consumer spending and the negative impact of the Hong Kong dollar to Renminbi foreign currency conversion.
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