Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
VITASOY INT'L: No Plans for Further Price Tweaks; Buybacks Not Decision in Haste But Long-term Strategy
Recommend 4 Positive 7 Negative 5 |
||||
|
||||
|
VITASOY INT'L (00345.HK) reported a 6.3% YoY decline in interim revenue, which the group attributed to the weak market conditions that posed challenges to its Mainland China operations. During the period, the plant milk category in the Mainland market recorded a 10% drop, while the tea beverage category grew by 5%. lan Hong Ng, CFO of VITASOY INT'L, noted that the prices of tea beverage products in Mainland China were lowered by 10-15% last November, while soy milk products saw no price cuts, but their discount range was adjusted. The Hong Kong market, meanwhile, was left unaffected. She also added that there are no plans for further price adjustments as the current prices are already very competitive. Recently, SINO LAND (00083.HK) Chairman Robert Ng's brother Philip Ng has repeatedly added his holdings in Vitasoy Group shares. When asked whether the group's share buyback is related to Philip Ng's increased holdings, Executive Chairman Winston Lo answered that the buyback reflects the group's confidence in long-term value, and it is not a decision made in haste but a long-term direction for the future. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
