Dacheng Sugar (03889) announced its 2023 annual results, achieving revenue of HK$440 million from continuing operations, compared with...
According to the Zhitong Finance App, Dacheng Sugar (03889) announced its 2023 annual results. The continuing business achieved revenue of HK$440 million, an increase of 22.6% over the previous year; profit attributable to shareholders was HK$290 million, turning a year-on-year loss into a profit; and the continuing operation basically lost 9.2 HK cents per share.
In the current year, production facilities at the Group's Shanghai plant, which were suspended since the second quarter of 2022, have resumed operations. As a result, the sales volume and comprehensive revenue of the Group's continuing operations increased by approximately 34.9% and 22.6% respectively to approximately 116,000 tonnes (2022:86,000 tonnes) and HK$440,800,000 (2022: HK$359,600,000), respectively. The Group's gross margin remained stable and increased slightly by 0.7 percentage points to 8.3% (2022:7.6%). Mainly due to increased sales volume in 2023, the Group's consolidated gross profit increased by about 34.1% to approximately HK$36,600,000 (2022: HK$27,300,000).