CHINA/US: Noodle maker New Dragon Q3 profits up
Chinese food firm New Dragon Asia Corp. has seen cost cuts and rising sales boost quarterly profits.
The US-listed firm, which is one of China's largest noodle makers, posted operating profit of US$1.8m for the three months to 25 September, up from US$1.5m a year earlier.
Turnover was up 8% to $14m thanks to its soybean business.
CFO Peter Mak said: "We saw strong growth in our soybean business, as well as our global export sales of noodles.
"Our efforts remain focused on moving toward a higher margin product mix, while concurrently increasing sales of our traditional flour and noodle products and carefully controlling expenses."
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