China Green (Holdings) Limited, China's leading integrated agricultural enterprise in green foods and fresh produce with principal businesses comprising cultivation, fresh-keeping, processing, export and domestic sales of fresh produce today announced its results for the 2006 fiscal year ended April 30, 2006. The Company's net profit surged 47.9% to RMB 271,275,000.

For the year under review, China Green focused on the development of overseas and local markets, and concentrated its efforts on the development and promotion of new products, contributing to an increase in annual turnover of 45.9%, to RMB 686,602,000 compared to the previous year. Gross profit was RMB 354,416,000, up by 39.2% over last year, with gross profit margin at 51.4%. Retail and wholesale expenses along with administrative costs comprised 9.5% and 5.7% of the Group's annual turnover, respectively. Earnings per share stood at RMB 271, 275,000, an increase of 47.9% over the last corresponding period, while net profit margin was 39.5%, rising 0.5 percentage points.

Commenting on the encouraging results, the Chairman of China Green Sun Shao Feng said, "Looking back on the past year, China Green's business saw. rapid development. To sum up, we further consolidated and defined our targets for the Group's future growth. Utilizing the Company's cultivation, processing and logistics capacities as an integrated platform, with strict adherence to the Group's obligation to 'ensure the freshness and greenness of its products', China Green will strive to become the premier green foods brand with a comprehensive value chain.

"In terms of business development, we will continue to develop our existing markets as the Group has successfully enhanced the export rate of its existing markets. Meanwhile, the Group has also achieved encouraging results in the cultivation of new markets. At the same time, we have begun retail operations in the Mainland market in stages, pushing forward China Green's development strategy of combining internal sales and external trade. "

Source:佚名