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Fenbo Holdings reported its full year 2023 financial results, highlighting stable revenue of HK$119.1 million, a slight decrease from the prior year. The gross profit increased to HK$22.1 million, resulting in losses from operations of HK$0.4 million due to higher general and administrative expenses. The company improved its gross profit margin to 18.6% and saw a rise in net cash provided by operating activities to HK$9.7 million.
The Chairman and CEO expressed confidence in navigating market dynamics, enhancing product quality, and expanding geographically in 2024. Despite a decrease in revenue for curling wands and irons products, the company remains optimistic about improving profitability through strategic initiatives and eco-friendly product development.
