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Tingyi Holding's profit up 36% in Jan-Sep

Nov. 20, 2012 (China Knowledge) - Tingyi (Cayman Islands) Holding Corp<0322>, owner of the popular noodle brand Master Kong, has posted US$632 million in net profit for the first nine months of this year, reflecting a YoY increase of 36% from US$464 million.

In the reporting period, the Hong Kong-listed firm's operating revenue rose 18% YoY from US$6.34 billion to US$7.48 billion.

Revenue from its instant noodle business grew 12.6% from a year earlier to US$2.91 billion, accounting for 38.9% of the total revenue. US$4.33 billion or 57.9% of the total revenue was derived from beverage business, up 21.76% YoY.

The company's earnings per share were 7.87 US cents in the nine months period. In the same period, the firm's gross margin rose 3.92 percentage points to 30.41%.

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