Nissin Foods Co., Ltd. (HK:1475) has released an update.
Nissin Foods Co. Ltd. has disclosed its controlling shareholder, Nissin Foods Holdings Co. Ltd.’s, unaudited financial results for Q2 2024, reporting a rise in revenue by 10.8% and a mixed performance in profits, with core operating profit up by 3.2% but overall operating profit down by 4.3% compared to the previous year. Despite economic challenges, the company saw an increase in sales volume for its cup and premium bag-type noodles in China and a growth in exports to North America and Europe. However, profits were affected by a decrease in Chinese government grants and changes in consumer behavior in Hong Kong.
For further insights into HK:1475 stock, check out TipRanks’ Stock Analysis page.
