14 November 2011

China Minzhong Quarterly Report Update

Below are the extraction from SGX website:

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_C1E56E69D2B6B00F482579470025F803/$file/1QFY2012ResultsPresentation.pdf?openelement

  • 1Q2012 to 1Q2011 Revenue increased 36.8% to RMB361.4M from RMB264.1M
  • 1Q2012 to 1Q2011 Gross Profit increased 68.5% to RMB147.0M from RMB87.2M
  • 1Q2012 to 1Q2011 Net Profit increased 77.9% to RMB93.1M from RMB52.4M
  • 1Q2012 to 1Q2011 Net Profit Margin increased 6.0% to 25.8% from 19.8% due to better product mix - Champignon mushrooms (14.0%), Black Fungus (14.7%), German Chives (8.4%), Capsicums (7.6%), King Oyster Mushrooms (9.2%)
  • Net Profit / Current Equity Holdings for 1Q2012 = 93.1/3,000.8 = 3.1%
  • Outlook - 
    • Despite the global economic uncertainty, the demand for vegetables products remains robust, underpinned by population growth, rising urbanization and the increased preferences for healthy dietary eating habits. Globally, food manufacturers’ needs for cost-competitive and reliable supply of raw material food ingredients are increasing on the back of increased weather adversities and supply shortages across the agricultural landscape. The Group remains well-positioned to capitalize on these opportunities with its established track record, ongoing expansion plans and highly specialized product knowledge and emphasis on product quality assurance.  
    • The Group continues to reap rewards from the expansion of its cultivation and processing capacity over the past financial year. Harvests from newly-added vegetable farmland and the additional processing capacity at the Group’s New  Industrial Park are expected to contribute positively to the Group’s business performance in the new financial year. The Group’s continued shift towards a higher value product mix will also help to drive the increase in average selling prices and margins in the long term. 

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...

View All My Posts Here