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SCMP Reporter

Vitasoy International Holdings, which sells soya-based drinks and other beverages, said net profit last year jumped 21 per cent because of strong sales in its home base of Hong Kong, robust growth on the mainland and better cost control.
The company said it would launch  new  products to deepen market penetration and possibly raise prices to minimise the impact of global raw material price  increases.
Net profit for the year to March rose to HK$211.21 million or 20.9 HK cents per share, up from HK$173.9 million or 17.3 HK cents in the previous year.
Turnover increased 15 per cent to HK$2.42 billion from HK$2.11 billion,  reflecting the strong economy across the border. Gross profit margin was unchanged at 46 per cent,  due to stringent cost controls.
Revenue from the Hong Kong market, which accounted for 52.12 per cent of total turnover, was up 5 per cent to HK$1.26 billion. Vitasoy said sales growth in Hong Kong might be at a relatively slower pace after a buoyant 2007.
The company said operating expenses were likely to increase due to higher raw materials costs.
The price of soyabeans  shot up nearly 100 per cent last year.
Vitasoy has already reduced its reliance on soya-based drinks by selling tea and juices in recent years but it will not rule out the possibility of raising retail prices.
'In view of the rise in raw materials costs, we might consider raising the price of our products where possible during the year,' the company said.
The Pearl River and Yangtze River delta areas - where the company posted a 59 per cent growth to HK$363.13 million last year - will remain its high-growth market.
Vitasoy said it expected its North America market, which recorded an operating loss of HK$22.55 million, to turn around as early as next year.
A final dividend of 8.7 HK cents per share was declared.



Vitasoy earnings jump 21pc to HK$211.2m