H&H International (HKG:1112) said reported net profit is seen to plunge 80% to 100% year over year in 2024 in accordance with International Financial Reporting Standards, according to a Friday filing with the Hong Kong bourse.
The decline is attributable to a double-digit fall in its baby nutrition and care segment sales, and non-cash foreign exchange losses from the revaluation of a US dollar-denominated intragroup loan.
H&H also logged one-off marketing expenses from a product launch and a portfolio optimization activity, as well as impairments and higher finance costs, the filing said.
Revenue saw a mid-single-digit decline, with the vitamin, herbal and mineral supplements increasing in double digits.
The adult nutrition and care segment and the pet nutrition and care logged single-digit increases, the filing said.
The baby nutrition and care and the pediatric probiotic and nutritional supplements segments saw double-digit falls, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.