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Ngai Hing Hong's Fiscal H1 Earnings Fall on Higher Expenses

MT Newswires ·  {{timeTz}}

02 :45 AM EST, 02/25/2022 (MT Newswires) -- Ngai Hing Hong (HKG:1047) said its fiscal H1 earnings slipped to HK$0.092 ($0.012) per diluted share from HK$0.1005 in the prior year.

Profit attributable to equity holders of the company for the six months ended Dec. 31, 2021 went down to HK$34 million year over year from HK$37.1 million, according to a late Thursday filing.

Revenue from contracts with customers fell to HK$931.1 million year over year from HK$952 million.

The declines were driven by a year-on-year increase of administrative expenses to HK$66 million from HK$57.6 million and of distribution costs to HK$45.9 million from HK$40.3 million.

The plastic material and plastic products manufacturer declared an interim dividend of HK$0.015 per share, payable April 11 to shareholders of record on March 25.

Price (HKD): $0.62, Change: $+0.01, Percent Change: +1.64%

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