Vitasoy International Holdings Limited (SEHK:345) is a Hong Kong-listed drink company that started out producing high protein soy-milk but later expanded into a wide variety of beverages such as fruit juice, milk, soft drinks, water, and tofu. Since the company listed in Hong Kong in 1994, it has sustained strong growth.

Vitasoy reported a growth of 30% in profit attributable to equity shareholders in the first six months of fiscal year 2018/2019. It has attributed its gains to continued international growth while noting that it has increased its investments in manufacturing and logistics infrastructure.

1. Steady growth

The annual growth rate of Vitasoy International holdings' revenue has been expanding steadily for the past five years. The company delivered a 24% return on equity (ROE) and a 29% return on capital (ROC) in the past year.

However, Vitasoy International holdings may be overvalued at a steep PE ratio of 58.9x but it's possible the company's growth prospects can live up to that valuation. And, of course, Warren Buffett once said: "It's better to buy a wonderful company at a fair price than a fair company at a wonderful price."

2. The future of Vitasoy

Vitasoy's CEO Winston Yau-lai Lo remains very confident in his company's growth opportunities. He shared how he expects that to happen during its earnings release:

"For the second half of the fiscal year, we expect our business to continue to be strong yet growing at a more moderate pace. Our operations in Hong Kong, Australia, and Singapore also reported growth in revenue, both in reporting and local currencies. Our local joint venture business in the Philippines continued to grow by gradually building the local soy category."

Vitasoy also plans heavy spending to secure its position in a number of markets. In order to boost the company's productivity in Southern China, for example, Vitasoy is constructing its third plant in mainland China.

3. Vitasoy growing its market share outside Hong Kong

Vitasoy has focused on deepening its roots in existing cities and widening its global presence. Vitasoy mainland China delivered a growth of 33% in revenue and 42% in profit in the first six months of the financial year 2018/2019. In addition, a 9% growth in revenue was recorded in Vitasoy's Australia and New Zealand business. This is in line with the company's "Go Deep Go Wide" strategy, a plan to broaden the company's appeal base and expand beyond its traditional roots.

Watch out for spilled milk

Though those efforts are clearly succeeding, the market may have already rewarded the company for its expected future success. Investors should closely monitor Vitasoy's share price despite the company appearing to be well-positioned for a bright future.

A version of article originally appeared on our Fool Asia site. For more coverage like this head over to Fool.hk.en