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Henan Shuanghui's net profit up 4 folds in H1

Aug. 29, 2012 (China Knowledge) - Henan Shuanghui Investment & Development Co<000895>, the listed unit of China's largest meat processor Henan Shuanghui Group, saw its net profit attributable to shareholders skyrocketed 432.85% YoY to RMB 404.85 million in the first half of this year.

In the first half of this year, the company earned RMB 19.75 billion in operation revenue, reflecting a YoY increase of 29.43%. Basic earnings per share were RMB 0.67 for the period, up 432.78% from a year earlier.

The company produced 340,200 metric tons of high and low temperature meat products during the six-month period, up 2.62% YoY, while the sales of high and low temperature meat products totaled 699,800 metric tons, up 11.14% from a year earlier.

In the first half of 2011, the company saw its net profit plunge 84.85% YoY to RMB 75.98 million, due to higher raw material costs and food safety problem.

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