Luks Group (Vietnam Holdings) records 10% fall in turnover

Luks Group (Vietnam Holdings) Co Ltd has reported a 9.7 per cent YoY decrease in turnover to HKD330.6m (US$42.17m) for the six-month period ending 30 June 2019, compared with HKD366.2m in the 1H18. The company’s cement business saw a decline of 18 per cent YoY in turnover to HKD219.3m.

The company has attributed the results to a fall in Chinese consumption, which resulted in reduced cement exports, alongside a decline in Vietnam’s domestic cement demand.

The company’s plant in central Vietnam recorded a 19 per cent YoY dip in cement and clinker sales to 659,000t. However, after cost control and an increase in ex-factory cement prices, its after-tax profit increased 13.7 per cent to HKD12.88m in the 1H19.