Chocolate confectionery maker Delfi has reported earnings of US$12.3 million for 1HFY2021 ended June 30, up 13.7% y-o-y.
Revenue in the same period increased by 6.8% y-o-y to US$210.5 million, as demand for its products grow amid tentative recovery of economies from the pandemic-led lockdowns.
Delfi plans to pay a dividend of 1.27 US cents, same as last year, but at a higher payout ratio of 63.1% than usual, is a sign of the company’s confidence in its ability to generate cash.
“In 1H 2021, we were focused on capturing the recovery in our markets and have responded successfully to ever-changing conditions brought on by the fluid COVID-19 situation,” says CEO John Chuang.
“With cases rising due to a more infectious variant, we are currently seeing a return to stricter restrictions on movement. As such, we have worked successfully with our channel partners and retail customers to ensure that our products are even more easily accessible to consumers who are now shopping closer to home,” he adds.
Delfi expects the outlook for the rest of 2021 and beyond to remain challenging.
Delfi shares closed Aug 10 at 85 cents, up 0.6% for the day, and up 19.01% year to date.
