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China Flavors and Fragrances 2019 Performance: Revenue Increases 40%

2020-03-30
China Flavors and Fragrances released its 2019 results, with revenue of 1.641 billion RMB, an increase of 43.2% ; gross profit of 764 million RMB, an increase of 29.8%; profit attributable to shareholders was 119 million RMB, a decrease of 6.3% . Basic earnings per share are 0.13 RMB, without dividends. The announcement shows that the net profit for the period increased by 11.8%, which was due to the net profit of the fragrance enhancer segment and health product segment in 2019. Net profit margin for the year decreased to approximately 10.0% (2018: 12.8%). It is noteworthy that the revenue of e-cigarettes and their accessories surged to approximately 739 million RMB, a significant increase of 221.2%, which was due to the Group's expansion of e-cigarette product distribution and trading business in South Korea and the United States in the second half of 2019. In the third quarter of 2019, the Group's subsidiary in South Korea has begun operating its trading business. The subsidiary has expanded the division's distribution network to reach different levels of Korean customers through convenience-stores. The Group will continue to develop trading business in South Korea and the rest of the world in the future.
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