QP Group recorded significant 2024 profit growth

Paper product manufacturer QP Group (1412) expects a full-year net profit of between HK$115 million and HK$135 million in 2024, representing a year-on-year growth of 43.6 percent to 68.5 percent.

The profit growth is mainly due to the increase in web sales and the increased demand for its tabletop game products and greeting card products from its major original equipment manufacturer, or OEM, customers. Another reason for the earnings growth is the continuous enhancement in operational and production efficiency.

In the first half of last year, QP Group's revenue was HK$539 million, a 17 percent year-on-year increase, with a net profit of approximately HK$54 million, up by 50.9 percent. The number of active registered user accounts increased from around 64,000 at the end of 2023 to about 70,400 in the middle of last year.

QP Group is a paper product manufacturing and printing service provider, with primary product categories including board games, card games, puzzles, greeting cards, educational items, to premium packaging. It operates both wholesale and retail business through its own sales and online channels respectively. The group has established stable business relationships with major OEM customers in the United States and Europe, including an international greeting card publisher, as well as several multinational children's education product and toy brands.