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58 listed food & beverage firms earn RMB 13.67 bln in Q1

May. 4, 2012 (China Knowledge) - The 58 China-listed food and beverage companies booked a combined net profit of RMB 13.67 billion in the first quarter of this year, reflecting a robust growth of 42.21% year on year, the China Securities Journal reported.

The 58 companies realized total operating revenue of RMB 80.23 billion in the period, 21.72% more than in the same period of 2011.

Of the total, 52 companies saw profits in the first three months, while six firms suffered losses.

The white liquor sector outperformed the whole food and beverage industry in the first quarter. The 13 listed liquor companies saw their profit surge 54.41% year on year to RMB 10.97 billion and their operating revenue jump 41.86% year on year to RMB 30.19 billion.

Wuliangye Yibin Co Ltd<000858> became the most profitable liquor company in the quarter recording a net profit of RMB 3.05 billion, followed by Kweichow Moutai Co Ltd<600519> with a net profit of RMB 2.97 billion and Jiangsu Yanghe Brewery Ltd<002304> with a net profit of RMB 2.21 billion. Jiugui Liquor Co Ltd<000799> experienced the biggest increase in net profit, which soared 4.7 times in the period.

Dairy giant Inner Mongolia Yili Industrial Group Co<600887> reported a 183.35 growth in net profit, which hit RMB 411 million in the first quarter. The company's operating revenue rose 13.21% year on year to RMB 10.26 billion in the period.

Meat processing company Henan Shuanghui Investment & Development Co or HSIDC<000895> saw a 28.83% decline in net profit to RMB 189 million, although its operating revenue increased 17.40% year on year to RMB 9.86 billion.

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