Zhitong Financial APP News, Quanta Electric Appliance Group Holdings (01750) announced interim results for the six months ended June 30, 2023. The group made a profit of HK $85.753 million, down 6.4% from the same period last year. Profit during the period was HK $537000, compared with a loss of HK $4.822 million in the same period last year.
The group's overall gross profit margin increased by about 4.1% from about 13.9% for the six months ended June 30, 2022 to about 18.0% for the six months ended June 30, 2023. The increase in gross profit margin is mainly due to the implementation of a series of cost-saving measures to reduce the cost of sales.