Hong Kong's Town Ray interim profit falls 37% on costs FX losses

Town Ray Holdings

25/08/2026 13:46

Overview
Hong Kong electrothermic appliance maker's interim revenue fell 6% yr/yr
Net profit for the period dropped 37% yr/yr, driven by higher material costs and FX losses
Company declared interim dividend of HK3.7 cents per share, lower than previous period

Outlook
Town Ray says it aims to generate robust, stable operating cash flow for remainder of 2026
Company continues preparations for strategic reentry into U.S. market when conditions permit
Town Ray expects ongoing investment in technology and geographic expansion to drive growth

Result Drivers
LOWER APPLIANCE SALES - Co said revenue decline was mainly due to decreased sales of garment care and cooking appliances
HIGHER MATERIAL COSTS - Co said profit was hurt by a substantial increase in direct material costs due to sustained geopolitical tensions
FOREIGN EXCHANGE LOSSES - Co reported a swing from foreign exchange gains to losses, mainly due to RMB appreciation against USD

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$307.80 mln
 
H1 Net Income Attributable
 
HK$18.90 mln
 

Reuters Recommended Reads
Aug 24 - Plastics mold maker TK Group's H1 profit drops on new project ramp-up
Aug 25 - Sportswear maker Xtep International H1 revenue dips 0.6% as core brand weakens
Aug 24 - Elastic fabric maker Best Pacific's H1 revenue rises on sportswear demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-25/9eeccfb1-c873-472a-b71f-9756cc853aa0.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)