恒安国际(01044.HK)中期营收增长6.3%至107.77亿元中期息每股1.00元
格隆汇8月22日丨恒安国际(01044.HK)公布，截至2019年6月30日止六个月，实现收入107.77亿元人民币(单位下同)，同比增长6.3%；毛利40.19亿元，同比增长0.01%；公司权益持有人应占利润18.78亿元，同比减少3.6%；基本每股收益1.578元；拟派中期股息每股1.00元。
公告称，卫生巾业务。由于传统渠道销售占卫生巾销售超过60%，集团改革传统销售渠道对卫生巾销售带来一定过渡调整期。期内，卫生巾业务销售下跌约4.6%至约30.75亿元，占集团收入约28.5%。
于2019年上半年，集团继续提升高档产品在产品组合中的占比，且石化原料成本保持稳定，因此，即使在市场的竞争激烈气氛下，集团仍有效增加卫生巾业务的利润水平。期内，卫生巾业务的毛利率上升至约70.3%。
纸巾业务方面，期内，纸巾业务收入上升约7.4%至约54.61亿元，占集团收入约50.7%。另外，造纸原料木浆价格于2019年上半年起回落，原料成本的下降在2019年上半年开始逐步反映，使毛利率有所改善。
期内，纸巾产品毛利率由去年下半年为约19.2%回升至今年上半年为约25.0%，接近去年同期水平。由于集团于木浆价格高企时大致维持产品价格稳定，集团于期内没有大规模价格下调的压力，因此，成本下跌所带来的效益预期尤其明显。集团预期木浆价格于2019年下半年持续下跌，纸巾毛利率将于2019年下半年继续显着改善。
纸尿裤业务方面，截至期内，纸尿裤业务收入约为7.51亿元，降幅收窄至约7.4%，占集团整体收入的约7.0%。
回顾期间，通过经年来加大在电商的投入，集团电商纸尿裤销售占纸尿裤整体销售已经上升至超过40%，电商渠道的销售同比去年同期增长超过10%，有助缓和集团纸尿裤整体销售额的跌幅。
家居用品业务收入约1.54亿元，当中包括声科集团收入约1.14亿元。家居用品业务约占集团经营业务收入1.4%。
此外，截至2019年6月30日止六个月，皇城集团的收入为约2.08亿元，较去年同期增长约11.8%，主要透过恒安团队於期内积极活化该集团于马来西亚的销售动力，并拓展电商销售，再加上新引入至当地的超迷你湿纸巾和便利妥纸尿裤等恒安集团品牌产品在当地深受欢迎，从而促进销售。
期内，声科集团的收入为约1.14亿元，较去年同期上升约118.9%。另外，集团进行的原材料销售业务收入较2018年同期上升超过约50%。因此，其他收入较去年同期上升约46.2%。
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