WH Group Ltd. (WHGLY, 0288.HK) reported an increase in net income for the second quarter compared to the previous year.
Second-quarter profit rose to $944 million, up from $919 million in the year-ago period.
Earnings per share were $5.99, compared to $6.14 in the prior year.
EBITDA grew to $1.68 billion from $1.67 billion during the same period last year.
Operating profit fell to $1.23 billion from $1.26 billion in the previous year.
Revenue increased to $13.83 billion from $13.39 billion year-over-year.
Looking forward, the company anticipates that weak demand, inflation, commodity volatility, and competition will pressure operations, while it remains focused on optimizing product mix, maintaining pricing discipline, controlling costs, driving volume growth, and improving efficiency.
On Thursday, WH Group shares closed down 0.44% at HK$7.880 on the Hong Kong Stock Exchange.
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