Tingyi gains from rising appetite
0 Comment(s)
Print
E-mail Shangahi Daily, November 20, 2012
Chinese instant food and drinks maker Tingyi Holding Corp benefited from rising consumer demand and lower raw material cost to post a 19.4 percent jump in net profit in the third quarter.
Its net income in the three months ended on September 30 totaled US$155 million, the company said in a filing to Hong Kong stock exchange yesterday.
Revenue in the three months soared 33.6 percent to US$2.95 billion as instant noodle and beverage sales rose. In the first nine months, revenue added 18 percent to US$7.49 billion while net profit gained 22.4 percent from a year earlier to US$440.3 million.
Tingyi, which is partnering Pepsi Co on the non-alcoholic beverage business in China, last month unveiled a new joint venture bottling plant in Henan Province to tap growing consumer demand.
Tingyi sells instant noodles and beverages under the Master Kong brand in China.
Go to Forum >>0 Comment(s)