According to the Zhitong Finance App, Lam Shun (Hong Kong) (00411) announced results for the six months ended December 31, 2023. The group achieved revenue of HK$2,659 million, a decrease of 2% year on year; profit for the current period of HK$129 million, up 205% year on year; basic profit per share of HK$0.55, and plans to pay an interim dividend of HK$0.13 per share.
The Group's revenue decreased by 2% compared to the same period last year to HK$2,659 million due to the decline in the RMB average exchange rate. Excluding this effect, revenue increased slightly by 1%, mainly due to increased sales volume. The gross margin increased sharply by 5.4 percentage points to 21.9%, mainly due to favorable wheat costs and cooking oil costs, as well as improved sales mix in the company's flour and home care business and improved performance in the specialty oils and fats business. As a result, the Group's profit for the current period increased by 205% to HK$129 million.