HONG KONG, May per chance well 13, 2022 – (ACN Newswire) – Nissin Meals Company Shrimp (“Nissin Meals” or the “Company”, and along with its subsidiaries, the “Crew”; Stock code: 1475) as we remark time launched its unaudited first quarter financial data for the three months ended 31 March 2022 (“the Reporting Length”).
The Crew’s earnings increased by 10.1% year-on-year (“YoY”) from HK$964.5 million to HK$1,061.8 million. Imperfect earnings grew 7.4% YoY to HK$332.8 million (2021: HK$309.9 million). Imperfect earnings margin was 31.3% (2021: 32.1%), primarily a results of the increased prices of raw materials and totally different production costs. Income attributable to house owners of the Company was HK$90.3 million (2021: HK$93.2 million).
Income from Hong Kong operations increased by 6.6% YoY to HK$357.9 million due to the a surge in quiz of accumulate-form instantaneous noodles. As for Mainland China operations, having taken steps to elongate its geographical gross sales territories and gives a increase to its “Cup Noodles” imprint within the Reporting Length, earnings increased by 11.9% (in native foreign money: 8.6%) to HK$703.9 million, primarily contributed by the expansion in gross sales quantity of cup-form instantaneous noodles.
Mr Kiyotaka ANDO, Govt Director, Chairman and Chief Govt Officer of Nissin Meals, acknowledged, “With the COVID-19 epidemic prevailing, of us’s livelihood and financial restoration had been surrounded with uncertainties. Even even though the industry environment has been traumatic, we’re committed to guaranteeing staunch provide of quality and safe merchandise to our possibilities and, to retain earnings sigh. We will have the option to proceed to provide a increase to production efficiency by bettering our capabilities and imposing cost-saving measures. Per the Company’s strategic direction, we are in a position to also proceed to provide a increase to our product portfolio in repeat to provide a increase to general competitiveness and make sustainable mark for all stakeholders.”
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About Nissin Meals Company Shrimp
Nissin Meals Company Shrimp (The “Crew”; Stock code: 1475) is a popular food company in Hong Kong and Mainland China with a diversified portfolio of well-liked and extremely in vogue brands and the largest instantaneous noodle company in Hong Kong. The Crew officially established its presence in Hong Kong in 1984. The Crew primarily manufactures and sells instantaneous noodles, frozen foods and totally different food merchandise below its two core corporate brands, particularly “NISSIN” and “DOLL” along with a diversified portfolio of iconic family top rate food brands. The Crew’s 5 flagship product brands, particularly “Cup Noodles”, “Demae Iccho”, “Doll On the spot Noodle”, “Doll Dark Sum” and “Fuku” are also among the most in vogue alternatives of their respective food product classes in Hong Kong. Within the Mainland China market, the Crew has launched abilities innovation throughout the “ECO Cup” belief and primarily focuses its gross sales efforts in first-and second-tier cities.
Nissin Meals is a constituent of eight Grasp Seng Indexes, particularly: Grasp Seng Composite Index, Grasp Seng Client Goods & Products and companies Index, Grasp Seng Stock Connect Hong Kong Index, Grasp Seng Stock Connect Hong Kong MidCap & SmallCap Index, Grasp Seng Stock Connect Hong Kong SmallCap Index, Grasp Seng SCHK Mainland China Corporations Index, Grasp Seng SCHK ex-AH Corporations Index, and Grasp Seng Tiny Cap (Investable) Index. For more data, please seek recommendation from www.nissingroup.com.hk.
Topic: Press free up abstract
Offer: Nissin Meals Co Ltd
Sectors: Meals & Beverage
From the Asia Corporate News Network
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