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Nasdaq-listed Synutra Int'l sees profit up 20.7% in Q3

Feb. 10, 2012 (China Knowledge) - Synutra International Inc<SYUT>, a Chinese dairy product supplier, reaped US$10.3 million in net profit attributable to shareholders in the third quarter of fiscal year 2012 ended Dec. 31, 2011, reflecting a year-on-year increase of 20.7%.

In the reporting period, the Nasdaq-listed firm's diluted earnings per American Depositary Share were US$0.18.

Net sales increased by 15.5% to US$114.4 million in the third quarter of fiscal year 2012 from US$99.1 million in the second quarter of the same fiscal year. Gross profit for the third quarter increased 12.6% to US$47.3 million with gross margin of 41.3%.

In the first nine months of fiscal year 2012, the company's net profit attributable to shareholders amounted to US$9.2 million, compared with a net loss of US$31.5 million in the prior year period.

Net sales for the nine-month period totaled US$257.2 million, up 52% year on year from US$169.2 million.

As of Dec. 31, 2011, Synutra International had US$45.8 million in cash, sources reported.

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