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Tingyi's H1 profit up 24% YoY

Aug. 21, 2012 (China Knowledge) - Tingyi (Cayman Islands) Holding Corp<0322>, owner of the popular noodle brand Master Kong, has posted US$284 million in net profit attributable to shareholders for the first half of this year, up 24.18% YoY.

Basic earnings per share for the period grew 24.15% from a year earlier to 5.09 US cents, and no dividend was declared.

From January to June, the company saw its operation revenue hit US$4.53 billion, reflecting a YoY increase of 9.51%. Revenue from its instant noodle business grew 15.78% from a year earlier to US$1.87 billion, accounting for 41.32% of the total revenue.

Meanwhile, US$2.5 billion or 55.24% of the total revenue derived from its beverage business, 4.68% more than it realized in the corresponding period of last year.

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