Chinese tissue maker Vinda has volatile day after slower profit growth

Vinda International Holdings

29/10/2018 05:01

** Shares of Chinese household paper products manufacturer
Vinda International Holdings Ltd  3331.HK  fall 3.3 pct to its
lowest since January 2015, after it posts slower profit growth
in the Jan-Sept period
    ** The stock later rebounds, rising 5.6 pct to HK$5.60, set
for its best day since July 19
    ** Company says revenue rises 11.1 pct for Jan-Sept period
and EBITDA increases by 8.6 pct (https://bit.ly/2CMtbl3)
 
    ** That compares with an 11.3 pct rise in revenue and a 9.2
pct jump in EBITDA in the same period in 2017 
    ** The Hong Kong-based firm says it has raised prices twice
during the period to alleviate pressure from rising wood pulp
cost and yuan devaluation and says it is confident about
improving growth momentum and margins in the medium term
    ** As of the last close, the stock has fallen 27.2 pct so
far this year
    ** Vinda has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 4.0 percentage points in the
past month
    ** The Hong Kong benchmark index  .HSI  rises 0.4 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)