Vinda International's revenue for the first three quarters was 10.747 billion Hong Kong dollars, facing two major challenges in the future
On October 28, 2018, Vinda International announced its results for the first three quarters as of September 30, 2018. Compared with the same period of last year, Vinda's total revenue in the first three quarters increased by 11.1% to HK$10,747 million, of which HK$8.669 billion came from the household paper business, HK$2.079 billion came from the personal care products business, and gross profit increased by 5.7% to HK$3,102 million. Operating profit increased by 1.2% to HK$769 million. Operating profit will increase by 9.4% to HK$827 million, excluding the impact of foreign exchange transactions.
Among them, the third quarter revenue increased by 1.4% to 3.413 billion Hong Kong dollars. The lower production pressure puts significant pressure on Vinda's fixed costs. The depreciation of the RMB against the US dollar and the further increase in the price of wood pulp denominated in US dollars have led to a significant increase in the cost of wood pulp in RMB. In addition to the cost impact, the increase in the promotion of Vinda Group only increased sales in September, and the product mix also had a slight negative impact on gross profit margin. As a result, gross profit for the third quarter of 2018 fell by 8.4% to HK$924 million. Gross profit margin decreased by 2.9 percentage points to 27.1%.
In the first three quarters of 2018, the two most influential challenges of Vinda Group were the sharp rise in the cost of wood pulp and the depreciation of the RMB against the US dollar, which was under pressure. To alleviate the pressure, Vinda has taken a number of measures, including two rounds of price increases, actively saving costs and optimizing product mix.
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