HONG KONG, January 25, 2024-

Vinda Group posted its 2023 report on January 25, 2024. In 2023, total revenue increased by 6.9% to HK$19.99 billion ($2.56 billion). Gross profit was down by 4.2% to HK$5.25 billion, while gross profit margin was down by 1.9 percentage points to 26.3%. Net profit dropped by 64.1% to HK$253 million, and net profit margin decreased by 2.3 percentage points from the previous year to 1.3%. The tissue and personal care segments contributed 83% and 17% of its total revenue respectively.

Sales channels. Traditional channels, key accounts managed supermarkets and hypermarkets, B2B corporate customers and e-commerce platforms accounted for 23%, 21%, 10% and 46% of revenue by sales channels, respectively. According to Vinda, E-commerce maintained a strong momentum as the dominant sales channel, recording a year-on-year growth of 12.6% in sales value.

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