Macau | Profit for Dah Chong Hong up 18.5 pct y-o-y in H1

Macau (MNA) – Dah Chong Hong Holdings (DCH), a Hong Kong-based integrated motor and consumer products vendor, has posted an 18.5 per cent of profit attributable to shareholders for the half year ended June 30 of 2018, totalling HK$275 million (US$35.03 million), according to a press release on Monday.

The company generated some HK$24.47 billion, registering an increase of 9.8 per cent year-on-year.

In Hong Kong and Macau, revenue grew by 9.2 per cent year-on-year to HK$2.89 billion as DCH vehicle unit sales increased by 12.1 per cent due to market share recovery following the revision of policies which bolstered the sales of electric and diesel vehicles in 2017.

Operating profit increased by 39.9 per cent to HK$235 million from higher vehicle sales volume, efficiency enhancements and increased profitability in the motor related business.

The company remained cautious over the uncertainty on the market generated by the trade war between China and the United States, although stating that ‘ the direct impact to DCH businesses is expected to be minimal’.

The company nevertheless stated that it will monitor the situation while continuing plans to enhance internal operations, expand the motor business in Mainland China.

The company further claimed that it will ‘position the consumer products business to benefit from growth in the Greater Bay Area and “One Belt, One Road” countries.

DCH’s consumer products business includes the distribution of food and FMCG, healthcare and electrical products as well as food processing, trading and retail.