Chanson International Holding net income slips 14.4% in H1
The drop in revenue was attributed to lower sales in China and the US
F&B operator Chanson International Holding reported a total revenue of $7.5m for the six months ended 30 June, 2024, a decrease of 14.4%, from $8.8m for the same period of last year.
The decrease in revenue was due to decreased revenue from both China and US businesses.
Net income was $23.4k compared to $284.7k for the same period of last year. Gross profit was $3.1m, compared to $4.3m for the same period of last year.
Gross margin was 41.5%, compared to 49.2% for the same period of last year.
Revenue from the China stores decreased by 7.3% to $6.5m in the first half of the year from $7m for the same period of last year. This was mainly due to the decreased revenue from bakery products as well as from other products.
Meanwhile, revenue from the US stores was $1m in H1 2024, which decreased by 42.2% from $1.8m in H1 2023, due to a decline in revenue from beverage products and eat-in services. However, this was partially offset by the slight increase in revenue from bakery products.
Chanson’s basic and diluted earnings per share were $0.002, compared to $0.027 for the same period of last year.
Chanson operates three brands such as George Chanson, Patisserie Chanson, and the Thyme Bar.
