{"id":799655,"date":"2025-01-10T16:34:01","date_gmt":"2025-01-10T21:34:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/raytech-holding-reports-financial-results-for-six-months-ended-september-30-2024\/"},"modified":"2025-01-10T16:34:01","modified_gmt":"2025-01-10T21:34:01","slug":"raytech-holding-reports-financial-results-for-six-months-ended-september-30-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/raytech-holding-reports-financial-results-for-six-months-ended-september-30-2024\/","title":{"rendered":"Raytech Holding\u00a0Reports Financial Results for Six Months Ended September 30, 2024"},"content":{"rendered":"
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HONG KONG, Jan. 10, 2025 (GLOBE NEWSWIRE) — Raytech Holding Limited (the \u201cCompany\u201d or \u201cRAY\u201d), a Hong Kong-headquartered company specializing in design, sourcing and wholesale of personal care electrical appliances for international brand owners, today announced its financial results for the six months ended September 30, 2024.<\/p>\n

CHING Tim Hoi, CEO and Chairman of the Company, commented, \u201cThe Company achieved a notable 31.0% increase in revenue for the six months ended September 30, 2024, reaching HKD 43.2 million (US$ 5.6 million), up from HKD 33.0 million in the prior year. This growth was driven primarily by strong sales in our trimmer series within the personal care products segment, reflecting our success in attracting new customers.\u201d<\/p>\n

\u201cHowever, operating expenses rose sharply, with merchandise costs increasing by 40.3% to HKD 34.1 million (US$ 4.4 million) and selling, general, and administrative expenses climbing to HKD 5.2 million (US$ 0.7 million). Consequently, income from operations decreased by 43.7% to HKD 3.9 million (US$ 0.5 million), and net income fell by 27.5% to HKD 4.7 million (US$ 0.6 million).\u201d<\/p>\n

\u201cLooking ahead, we remain committed to optimize our cost structure while continuing to drive sales growth. We are focused on enhancing our product offerings and expanding our customer base to improve profitability and strengthen our market position in the coming periods.\u201d<\/p>\n

\n Selected 2024 Interim Financial Metrics<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n Six Months Ended September 30,<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n Changes in<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (HKD in millions, except per share data, differences due to rounding.)<\/em>\n <\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n Percentage<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Revenue<\/strong>\n <\/td>\n\u00a0<\/td>\n43.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31.0<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Total operating expenses<\/strong>\n <\/td>\n\u00a0<\/td>\n39.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50.9<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Income from operations<\/strong>\n <\/td>\n\u00a0<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(43.7<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Income from operations %<\/strong>\n <\/td>\n\u00a0<\/td>\n9.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Total other income, net<\/strong>\n <\/td>\n\u00a0<\/td>\n1.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n71.4<\/td>\n\u00a0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Income before income taxes<\/strong>\n <\/td>\n\u00a0<\/td>\n4.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(34.6<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Net income<\/strong>\n <\/td>\n\u00a0<\/td>\n4.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(27.5<\/td>\n)<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n