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NISSIN FOODS Targets Double-digit Profit Growth, Reveals No Plan for Price Raise This Yr
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NISSIN FOODS (01475.HK) Chairman and CEO Kiyotaka Ando said that raw material prices are now stable and logistics costs are back to normal, which will help further reduce raw material costs. He expected double-digit growth in revenue and profit this year, and revealed that the company has no plans to raise prices this year. Ando said that the Hong Kong and mainland markets are still recovering, but the overall performance is better than last year, and he is optimistic about the outlook. He also expected raw material costs to decline, mainly because the prices of flour and fuel have returned to normal. He added that the Group will maintain its dividend payout ratio at 50% this year. As for the non-instant noodle business, he said the increase in demand for refrigerated products is mainly due to the pandemic and the change in lifestyle, where the production capacity of fresh-cut vegetables is already full and additional investment may be made in the future. He believed that the overall profit of the business will continue to rise in the future, which is currently contributing close to 10% of product profit. Last year, the group launched a Nissin membership bonus program in Hong Kong, and the first phase is limited to the Cup Noodles series. Ando revealed that in less than a year, it recorded nearly 80,000 members, accounting for more than 1% of the population of Hong Kong. He rated the overall performance as not bad, and hoped to expand the program to the Demae Itcho packed noodle products this year. AAStocks Financial News |
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