Toymaker Bloks Group Ltd. (0325.HK) announced on Wednesday its revenue rose 32.7% year-over-year to 1.78 billion yuan ($263 million) in the first half of this year, while its profit climbed 30% to 387 million yuan.
The company’s online and offline sales both posted double-digit growth during the six-month period. Offline sales grew 31.4% year-over-year to 1.59 billion yuan, accounting for 89.7% of total revenue. Online revenue jumped by a faster 68.1% to 181 million yuan, making up 10.2% of the total. The company had 1,851 stock-keeping units (SKUs) on sale in the first half of the year, including 426 newly launched products.
Bloks posted triple-digit revenue growth overseas, with international sales soaring 228.5% year-over-year to 366 million yuan. The U.S and Indonesia were the two biggest countries among its international markets during the period.
Shares of Bloks opened up 6.2% at HK$63 on Thursday. The stock is down nearly 50% from its 52-week high.
By Lau Chi Hang
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