The maker of tea drinks and soy milk posted interim revenue of HK$3.23 billion (US$415 million) and a net profit of HK$172 million, a 1 per cent year-on-year increase. The figures contrasted with the company’s performance for the full financial year ended March, when revenue rose 1 per cent and net profit surged 102 per cent.
“It is difficult to say,” said CEO Roberto Guidetti, when asked about expectations for demand on the mainland market.
Vitasoy has been offering 10 to 15 per cent discounts for its tea products since November 2024 and has increased promotional expenses for its soy milk products.
Guidetti said he expected long-term opportunities in mainland China, noting that its per capita beverage consumption was lower than some developed markets.
For the April-to-September period, mainland revenue fell 9 per cent year on year due to slower sales in general trade channels. Sales in Hong Kong and Macau declined 4 per cent from a year earlier, which Vitasoy primarily attributed to the sluggish economic recovery in Macau.
