TOWNRAY HLDGS announced its 2024 performance, with a net profit of approximately HKD 107.6 million, a year-on-year decrease of about 11.9%

TOWNRAY HLDGS announced its 2024 performance, with a net profit of approximately HKD 107.6 million, a year-on-year decrease of about 11.9%. Revenue was approximately HKD 703.6 million, a year-on-year decrease of about 0.1%; gross profit was approximately HKD 231.7 million, a year-on-year decrease of about 5.6%. Basic earnings per share were approximately HKD 0.2997, and a final dividend of HKD 0.161 per ordinary share is proposed. The decrease in revenue was mainly due to a decline in sales of garment care appliances, although the increase in sales of cooking appliances partially offset this. The decrease in gross profit and gross profit margin was mainly due to rising raw material and direct labor costs