SOLOMON SYSTECH (02878.HK) issued a positive profit alert. The Group is expected to record an unaudited consolidated profit attributable to shareholders of not less than approximately US$20 million for the six months ended 30 June 2022, representing an increase of approximately 86.9% as compared to that for the six months ended 30 June 2021.
The main reasons for the increase in profit in the first half of year 2022 were because the Group managed to increase the average selling price on some of its products, it also benefited from adjusting its product mix such that it comprised products with a higher profit margin, resulting to an increase in revenue and gross profit.
The main reasons for the increase in profit in the first half of year 2022 were because the Group managed to increase the average selling price on some of its products, it also benefited from adjusting its product mix such that it comprised products with a higher profit margin, resulting to an increase in revenue and gross profit.