Raytech sees 2024 revenue HKD 67M vs. HKD 45.5M last year

Raytech Holding pre-announces its financial results for the fiscal year ended March 31, 2024. The Company achieved a significant increase in revenue for the fiscal year 2024. Total sales amounted to approximately HKD67.0 million, marking a substantial growth of 47.1% compared to the previous fiscal year’s revenue of HKD45.5 million. These robust growths are resulted from significant increase in sales from the Company’s major products and tooling programs. Sales of products including hairstyling series, trimmer series, eyelash curler, nail care series and other personal care appliances reported HKD60.0 million in revenue, representing a 41.5% year-over-year growth. Sales of tooling also grew by 123.4% to HKD7.0 million compared to the previous fiscal year. These positive revenue trends highlight the Company’s solid performance for the past fiscal year. RAY is also expected to report income from operation of about HKD11.3 million for the fiscal year 2024, growing by about 57.9% from the previous year. It expects to report a net income of HKD9.9 million for the fiscal year 2024, which represents a 57.9% increase from HKD6.3 million of 2023 fiscal year.