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Nissin Foods Company Expects Significant Increase In Jan-Jun Net Profit

HONG KONG (Aug 07) -- Nissin Foods Company, a Hong Kong-listed instant noodles maker, said Wednesday it expects to record a significant increase in net profit in the January-June period from HK$94.17 million ($12.01 million) year-ago.

The rise will be on the back of higher sales volume in China and cost reductions, it said in an exchange filing.

In a separate filing, Yixin Group, a Hong Kong-listed online automobile retail transaction company, said it expects to swing to net profit of more than 120 million yuan in the January-June period, as compared with net loss of 159 million yuan year ago.

The swing to net profit will be owing to "growth of revenues resulted from the increase in financed automobile transactions through loan facilitation services, and the increase in operating margin resulted from economy of scale achieved,” the company said.

- By Hong Kong Newsroom;; +852 3960 5102
- Edited by Nabaparna Bhattacharya
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© 2019 Nikkei NewsRise Asia Pte Ltd. All Rights Reserved.
© 2019 Nikkei NewsRise Asia Pte Ltd.
All Rights Reserved.