Gelonghui December 10 (Nikko Holdings (08451.HK) announcementThe company's revenue decreased by 11.0% from 13.2 million yuan in fiscal year 2020 to 11.8 million yuan in fiscal year 2021. This is mainly due to the decrease in the number of toilet paper products ordered by corporate customers due to the influence of COVID-19. The company's profit decreased by 38.0% from 397000 yuan in fiscal year 2020 to 246000 yuan in fiscal year 2021. This is due to a decrease in gross profit.
The COVID-19 epidemic affected the whole year, compared with only half a year in the previous year. Revenue has been reduced as the Singapore government restricts business activities to curb the spread of COVID-19 locally. At the same time, procurement costs have increased due to rising global shipping costs. The selling price has been adjusted substantially throughout the relevant year. As a result, the gross profit margin is higher than that of the previous year.