VITASOY INT'L (00345) announced its annual results ending on March 31, 2024. Revenue was HKD 6.217 billion, a decrease of 2% year-on-year; gross margin was HKD 3.111 billion, a 3% increase year-on-year; net profit attributable to shareholders of the company was HKD 116 million, a 155% increase year-on-year. Basic earnings per share were 10.9 Hong Kong cents, and a final dividend of 6.3 Hong Kong cents per share is proposed.

In HKD terms, the group's gross margin increased from 47.5% to 50.0%, mainly due to an increase in selling prices and the improved efficiency of trade promotion expenses, partially offset by adverse effects from exchange rate fluctuations and sales mix. The prices of major raw materials remained stable in the current fiscal year. Net profit attributable to shareholders of the company increased significantly by 155%, mainly due to the company's focus on improving sales strategies in mainland China and applying product innovation to its Hong Kong business. However, part of the growth was offset by the current issue that the company is dealing with in meeting production standards in Australia.