New Hope Agribusiness Earnings Up 91%

Date:2011-08-26lile  Text Size:

August 26 – Sichuan New Hope Agribusiness (000876) posted a 91.27-percent year-on-year increase in net profit to 496 million yuan in the first half of 2011, reports China Business News, citing a company filing. Sales revenue in the same period grew 33.1 percent year-on-year to 4.673 billion yuan, with earnings per share (EPS) of 0.6 yuan.

The gross margin of its pig raising business leaped 47.11 percent.

New Hope attributed the strong performance in the first half to good market conditions, higher fodder sales, and diary product structure improvement.

Average per-head net profit from pig sales was above 600 yuan at the end of July.

Sichuan New Hope Agribusiness manufactures and sells fodder, milk products and meat products.


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