Master Kong's beverages business first-half revenue down 4.09% year-on-year

Master Kong Holdings recently released its interim results for 2020, and as of June 30 this year, the company's revenue rose 8% year-on-year to $32.934 billion and net profit was $2.653 billion, up 47.26% year-on-year.

In the first half of the year, the operating income of Master Kong Beverage was 17.617 billion yuan, accounting for 53.49% of the total income, a decrease of 750 million yuan, or 4.09% less than the same period last year. Thanks to the improvement in gross profit margin, a year-on-year decrease in other operating expenses and a decrease in minority interests, profit attributable to shareholders of the beverage business company rose 18.73% year-on-year to 838 million yuan.

With the epidemic under control, the rebound trend of the beverage business from the second quarter onwards was obvious. Among them, Master of tea ready to drink from the second quarter to increase brand investment efforts to enhance the brand appeal to young consumers and family consumer groups.