HONG KONG: Tingyi FY profit climbs
The company made a profit despite the global economy recovery remaining “sluggish”
Tingyi, the Hong Kong-listed food and drink group, has booked an increase in full-year profit and sales.
Earnings in the 12 months to the end of December climbed 8.5% to US$600.1m, the company reported today (18 March). The company said it made a profit despite the global economy recovery remaining "sluggish" and the European debt crisis continuing.
Net sales in the period amounted to $9.21bn, an increase of 17.1% on last year. Tingyi attributed to increase to sales growth in its instant noodles, beverages and instant foods
divisions of 10.2%, 23.3% and 16.2%, respectively.
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