Universal Logistics (Asia) (06083) Announces Annual Results Profit attributable to shareholders of HK$2.025 million decreased by 2.25% year-on-year

According to the Zhitong Finance App, Huanyu Logistics (Asia) (06083) announced its annual results for the year ended December 31, 2023. The group achieved revenue of HK$331 million during the period, up 1.09% year on year; profit attributable to shareholders was HK$2.025 million, a decrease of 2.25% year on year; basic profit per share was 3.99 HK cents; and a final dividend of HK2 cents per share was proposed.

The announcement stated that during the period, the Group achieved net profit of about HK$20 million, a year-on-year decrease of about 6.5%. In addition to government subsidies collected for the year ended December 31, 2022, net profit after tax increased by 12.2% for the period. The increase in net profit after tax is mainly due to improved cost-efficiency in the supply chain management service business, the establishment of a new cold chain business relationship with a well-known brand of a local restaurant chain group, and a rebound in sales due to the growth in marketing planning and sales divisions along with the recovery of tourism in Macau; it helps offset the impact of the pandemic and the decline in sales of disinfection products after the phasing out of low gross margin products.