VITASOY's Revenue Decline: VITASOY INT'L reported a 6.3% year-on-year decline in interim revenue, primarily due to weak market conditions in Mainland China, where plant milk sales dropped by 10% despite a 5% growth in tea beverages.
Price Adjustments: CFO Lan Hong Ng indicated that tea beverage prices in Mainland China were reduced by 10-15% last November, while soy milk prices remained stable with adjusted discounts; no further price changes are planned as current prices are competitive.
Interim Financial Performance: The company's interim net profit rose by 0.7% to HKD172 million, with an unchanged interim dividend of HK4 cents.
Share Buyback Confidence: Executive Chairman Winston Lo stated that the recent share buyback reflects the group's long-term confidence in its value, amid increased holdings by Philip Ng, brother of Chairman Robert Ng.
Wall Street analysts forecast 00083 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00083 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast 00083 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00083 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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0 Sell
Current: 11.470
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Current: 11.470
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
