Review of performance
Revenue and profit before tax increase 39.1% and 12.4% respectively as compared to the corresponding period in the preceding year.
From the breakout of income statement, the cost of sales and selling & distribution is increased from 65.0% and 6.8% to 68.3% and 11.6% respectively. This is the reason why profit before tax is not in line with revenue.
Sales volume is increasing and I believe the group is managed to continue this momentum in future as middle class of China people are getting more and more, what the management need to do is open more retail locations and spend more on advertisement. Unfortunately, the management didnt state out why the profit before tax is not in line with revenue, I think it is maybe management is spending more on avertisement, but however it is just my point of view, the real reason maybe need to wait for its annual report then only will know.
2 comments:
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