WH Group Q2 Earnings Rise

(RTTNews) - WH Group Ltd. (WHGLY, 0288.HK), on Friday reported higher net income in the second quarter compared with the previous year.

For the second quarter, profit increased to $944 million from $919 million in the previous year.

Earnings per share were $5.99 versus $6.14 last year.

EBITDA increased to $1.68 billion from $1.67 billion in the same period a year ago.

Operating profit declined to $1.23 billion from $1.26 billion in the prior year.

Revenue increased to $13.83 billion from $13.39 billion in the previous year.

Looking ahead, the company expects weak demand, inflation, commodity volatility and competition to weigh on operations, while focusing on product mix, pricing discipline, cost control, volume growth and efficiency.

On Thursday, WH Group closed trading 0.44% lesser at HK$7.880 on the Hong Kong Stock Exchange.