HongKong

Hong Kong drink maker Vitasoy’s profits sink after mainland China boycott sparked by leaked memo controversy



Hong Kong beverage company Vitasoy saw its profits tank in the six months to the end of September as business took a huge hit from boycotts in mainland China that at one point saw the iconic soy drink being pulled from shelves.Revenue slid 18 per cent to HK$3.6 billion (US$460 million) in the period, according to a filing to the stock exchange on Thursday. Net income plummeted 95 per cent to HK$32.8 million, dented by a fall in sales in mainland China, even as its operations in other markets…



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