Vitasoy predicts interim loss

Vitasoy International Holdings (0345) said it may record a loss in the six months ending 30 September 2021.

The beverage company's consolidated result is expected to range between a loss of HK$50 million and a profit of HK$60 million in the period, representing a year-on-year drop of between 91 percent and 107 percent.

Vitasoy said an unauthorized internal memo containing inappropriate contents widely circulated in social media on July 2 resulted in repercussions from customers in mainland China against the company, including the removal of products from the shelves in various sales channels for July.

Although the products were gradually returning to shelves in selected outlets, the loss of sales during the summer peak season is expected to have a material impact on revenue and profitability, it added.

Vitasoy's interim results are expected to be released in November.