Aug. 16, 2012 (China Knowledge) - China Yurun Food Group Ltd<1068
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Diluted earnings per share were only 5.9 HK cents during the period, down 93.3% YoY, said company in its interim report.
China Yurun Food attributed the sharp decline in net profit to a significant drop in pork price and to rising production cost.
The company's turnover dropped 23.9% YoY to HK$12.53 billion in the first six months. Sales of chilled meat, the firm's core business, decreased 17.9% YoY to HK$9.95 billion.