Vinda 2022 revenue up 4%, net profit down 56.9%

HONG KONG, January 30, 2023-

Vinda Group posted its 2022 report on January 26, 2023. In 2021, total revenue increased by 4% to HK$19.42 billion ($2.48 billion). Gross profit fell by 16.9% to HK$5.48 billion, with a gross margin of 28.2%. Net profit declined by 56.9% to HK$706 million while the net profit margin dipped by 5.2 ppts from the previous year to 3.6%.

Sales channels. Traditional channels, key accounts managed supermarkets and hypermarkets, B2B corporate customers and e-commerce platforms accounted for 24%, 21%, 11% and 44% of revenue by sales channels, respectively. The changing consumer behavior from offline to online accelerated further and e-commerce has been the dominant sales channel with an organic growth of 16.7% year-on-year.

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