CHINA: People’s Food forecasts higher 2002 profit
China's largest pork producer People's Food Holdings has announced that it expects a 2002 net profit of at least 811m yuan (US$98.1m), compared with 614.8m yuan net profit in 2001. For the six months ended June, profit rose 26% to 392m yuan, compared to the previous year. The company also announced that it has been granted in-principal approval from the Hong Kong Stock Exchange for a dual primary listing. It intends to maintain its Singapore listing but wants to encourage Hong Kong investors and enhance the company profile, reported Reuters.
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