TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Nov 07, 2019 13:47 JST
Source:
Nissin Foods Co Ltd
Nissin Foods Announces 2019 Q3 Financial Results
Steady Revenue Growth plus Double-digit Profit Growth as Momentum Continues
HONG KONG, Nov 07, 2019 - (ACN Newswire) - Nissin Foods Company Limited (the "Company", and together with its subsidiaries, the "Group"; Stock code: 1475) today announced its 2019 third quarter financial information for the nine months ended 30 September 2019 ("the Reporting Period").
Revenue of the Group amounted to HK$2,348.1 million, representing a year-on-year (YoY) increase of 3.2% from HK$2,274.8 million. Gross profit increased by 10.7% YoY to HK$770.1 million (2018: HK$695.5 million), with gross profit margin rising to 32.8% (2018: 30.6%), mainly attributable to the stable raw material costs and better control of fixed costs. Profit attributable to owners of the Company was HK$211.2 million, representing a 27.1% jump YoY from HK$166.2 million.
For the Hong Kong operations, revenue declined by a slight 2.2% YoY to HK$960.2 million (2018: HK$981.6 million) during the Reporting Period, mainly affected by the change in product portfolio of the MC Marketing & Sales (Hong Kong) Limited distribution business, yet partly offset by the subsequent growth in sales of instant noodles and other products. As for the PRC operations, revenue recorded a significant increase by 7.3% YoY (in local currency: 12.5%) from HK$1,293.2 million to HK$1,388.0 million, despite the effects of foreign exchange depreciation of the Renminbi compared to the Hong Kong Dollar this year.
Looking ahead, the Group remains cautiously optimistic about the Hong Kong operation and has actively paved the way for potentially high growth of its business in the PRC market over the long term. In particular, the investment announced in July earmarking about RMB180 million for building a new material production plant in Zhuhai, the PRC, is expected to facilitate the Group's business growth by reducing production costs and benefitting from greater synergies with the current production facilities. Besides, with the target completion of the new Bar Ramen production line upgrade at the Hong Kong factory in this year, the Group would possess a even stronger capacity enabling this authentic product to enter the burgeoning PRC market. Through these efforts, the Group can further enlarge its market share in the region, deliver considerable growth, and, ultimately, bring sustainable returns to shareholders.
For details, please refer to the announcement:
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/1107/2019110700292.pdf
About Nissin Foods Company Limited
Nissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and the PRC with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the PRC market, the Group has introduced technology innovation through the "ECO Cup" concept into the market and primarily focuses its sales efforts in first- and second-tier cities located in the eastern and southern parts of the PRC. For more information, please visit www.nissingroup.com.hk.
For media enquiries:
Nissin Foods Company Limited
Public Relations Department
Blanche Wong / Ceci Leung
Email:
pr@nissinfoods.com.hk
For investor enquiries:
Nissin Foods Company Limited
Investor Relations Department
Shingo Yamazaki / Peter Kwok
Email:
ir@nissinfoods.com.hk
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email:
vicky.lee@sprg.com.hk
Tika Lum Tel: (852) 2864 4806 Email:
tika.lum@sprg.com.hk
Source: Nissin Foods Co Ltd
Sectors: Daily Finance, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Related Press Release
Nissin Foods Announces 2023 Annual Results, Net Profit Up 5.6% to HK$330.2 Million
March 26 2024 12:40 JST
Nissin Foods (Hong Kong) Charity Fund Continues to Support Elite Athletes from The Education University of Hong Kong
January 16 2024 18:07 JST
Nissin Foods (Hong Kong) Charity Fund Continues Supporting Talents in Food and Nutritional Sciences
January 12 2024 20:30 JST
Nissin Foods Announces 2023 Q3 Financial Results
November 09 2023 12:45 JST
Nissin Foods Announces 2023 Interim Results, Net Profit Increases by 6.4% to HK$171.7 Million
August 30 2023 17:10 JST
Nissin Foods Completes Acquisition of Equity Interest in Hong Kong Eastpeak Limited
July 03 2023 12:57 JST
Nissin Foods Acquires and Contributes Capital to Nissin Vietnam
June 29 2023 17:11 JST
Nissin Foods' MSCI ESG rating upgraded to A
June 05 2023 12:48 JST
Nissin Foods Announces 2023 Q1 Financial Results
May 10 2023 12:35 JST
Nissin Foods Announces 2022 Annual Results, Adheres to Premiumisation Strategy to Drive Business Growth
March 27 2023 12:28 JST
More Press release >>
Latest Press Release
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
More Latest Release >>