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China Yurun Food reports 93.3% plunge in profit for H1

Aug. 16, 2012 (China Knowledge) - China Yurun Food Group Ltd<1068>, which offers a range of chilled, frozen and processed meat, announced yesterday that its net profit fell 93.3% YoY to HK$107 million in the first half of this year.

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.

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