Health and Happiness (H&H) International Holdings' (HKG:1112) revenue showed a mid-single-digit decrease in 2024, mainly due to lower sales of infant milk formula, a Wednesday bourse filing said.
Vitamin, herbal, and mineral supplements and pet supplements posted double-digit growth during the period. Adult Nutrition and Care recorded a high single-digit revenue growth, meanwhile, the Baby Nutrition and Care segment's revenue declined by double-digit during the reporting year
The pediatric and adult nutrition product manufacturer expects a 30%-40% drop in adjusted net profit and an 80%-100% decline in reported net profit for the 12 months.
The company attributed the lower anticipated profit mainly to a double-digit decline in sales from the baby nutrition and care segment, non-cash foreign exchange losses on loans, expenses related to the launch of new GB infant milk formulas, and a one-time restructuring cost.
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