Friday, February 22, 2019
 
Columnist
Martin Hennecke

Profits fall for noodles producer
 
08/02/2019
 
Instant noodles producer Nissin Foods (1475) announced its China segment's unaudited operating profit fell 12.4 percent to 2.4 billion yen (HK$171.45 million) for the nine months ended December 31 last year, due to an increase in depreciation costs, IPO related costs, and a one-time gain on sales of property in the same period of the previous year.

Revenues in China during the period rose by 4.2 percent to 30.325 billion yen year-on-year, due to increased sales of cup-type noodles products.

Nissin Foods said the instant noodle market in the mainland has bottomed out.

Meanwhile, Loco Hong Kong (8162) will place a maximum of 96 million shares, representing 19.99 percent of its issued share capital, at 24.1 HK cents per share, a discount of 19.7 percent to the closing price on Monday, with the aim of raising HK$21.48 million for working capital.

Previous news : Guangzhou R&F issues profit warning
 

 

 
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