Nissin Foods Achieves Steady 2022 Q1 Financial Results
HONG KONG, May 13, 2022 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods" or the "Company", and together with its subsidiaries, the "Group"; Stock code: 1475) today announced its unaudited first quarter financial information for the three months ended 31 March 2022 ("the Reporting Period").
- HONG KONG, May 13, 2022 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods" or the "Company", and together with its subsidiaries, the "Group"; Stock code: 1475) today announced its unaudited first quarter financial information for the three months ended 31 March 2022 ("the Reporting Period").
- Gross profit margin was 31.3% (2021: 32.1%), mainly a result of the increased prices of raw materials and other production costs.
- Revenue from Hong Kong operations increased by 6.6% YoY to HK$357.9 million due to a surge in demand of bag-type instant noodles.
- Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "With the COVID-19 epidemic prevailing, people's livelihood and economic recovery have been surrounded with uncertainties.