Nissin Foods (1475), a Japanese instant food manufacturing company, said yesterday its controlling shareholder, Japan-listed Nissin Foods Holdings' China segment recorded a 4.48 percent year-on-year increase in net sales to 11.24 billion yen (HK$777.41 million) for the three months ended September 30.
The China segment's net sales to third parties increased by 4.83 percent yearly to 11.11 billion yen for the quarter ended September 30.
Operating profit for the six months ended September declined by 4.9 percent to 1.74 billion yen in this segment, due to an increase in depreciation and IPO related personnel costs. Revenue grew by 5.4 percent to 20.34 billion yen, attributed to strong sales of cup-type noodles.
Under Hong Kong Financial Reporting Standards, Nissin Foods recorded an 18.66 percent year-on-year growth in revenue to 1.48 billion yen for the first half this year, while profit for the period grew by 3.11 percent yearly to 105.75 million yen.