HK-listed tissue maker Vinda at over 8-month low as H1 profit drops

Vinda International Holdings

20/07/2023 04:03

** Shares of tissue and napkins manufacturer Vinda
International Holdings Ltd  3331.HK  fall as much as 2.6% to
HK$17.76, lowest since November 14, and on course for the fourth
straight session of decline
    ** Company says its H1 net profit dropped 81.1% YoY to
HK$121 mln ($15.49 mln) amid increase in raw materials costs
with margin negatively impacted by inflationary pressures 
    ** Says H1 revenue up 10.1% YoY organically to HK$10.07 bln
($1.29 bln) due to strong organic growth in mainland China and
as E-commerce sales up 
    ** The Hang Seng Commerce & Industry Index  .HSNC  slips
0.2% and the Hang Seng Consumption Index  .HSCGSI  eases 0.1%
    ** The Hang Seng Composite Index  .HSCI  falls 2.2% and the
Hang Seng Index  .HSI  edges down 0.1%
    ** As of last close, the stock had fallen 20.7% this year
($1 = 7.8095 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))