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Greatview Aseptic Packaging to Post Lower Net Profit in January-December

MT Newswires ·  {{timeTz}}

04:32 AM EST, 12/21/2021 (MT Newswires) -- Greatview Aseptic Packaging (HKG:0468) expects to record net profit between about 285 million yuan and 300 million yuan ($44.7 million and $47.1 million) for the 12 months ending Dec. 31.

This is lower than the 342.8 million yuan the multinational aseptic processing company booked in the year-ago period, according to a Monday filing.

The company attributed the drop in profit to margin pressure arising from intensifying market and price competition and a surge in raw material cost amid an increase in commodity prices.

The company's shares closed 2% lower on Tuesday.

Price (HKD): $2.68, Change: $+0.06, Percent Change: +2.29%

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