Want Want China annual net profit rises to 4.1b yuan

Snack and beverage maker Want Want China (0151) reported a 13.9 percent increase in net profit to 4.16 billion yuan (HK$4.99 billion) for the year ended March 31.

The company declared a final dividend of 1.46 US cents (11.39 HK cents). The basic earnings per share were 33.83 fen.

Revenue grew by 9.5 percent to nearly 22 billion yuan.

Revenue from the rice crackers segment fell by 0.5 percent to 5.58 billion yuan due to the coronavirus pandemic, the company said.

Revenue from the dairy products and beverages segment grew by 12.2 percent to 11.01 billion yuan and at a much faster rate in the second half of the year. Revenue from snack foods grew by 14.6 percent to 5.31 billion yuan.

The gross profit margin increased by 0.2 percentage points to 48.2 percent.

Shares of Want Want China were 0.34 percent lower at HK$5.92 before lunch break.