CHINA: Tingyi posts Q1 profit rise
Chinese food and drinks manufacturer Tingyi has posted a 48% increase in profit for the first quarter of the year.
Net profit for the three months to the end of March hit US$173m, the Master Kong noodle maker said. EBITDA grew 23.5% to $364.2m.
Sales were up 5% at $2.78bn.
Sales from its instant noodle business grew 4.1% year-on-year to $1.14bn. However, sales of the group's instant food business were US$53.2m, a 7% drop on the same period last year.
To read the company's full results, click here.
- Rabobank's early view on Brexit impact on food
- New food waste standard will help monitor progress
- Kellogg uses Kashi to finally join party - comment
- Tyrrells' growth plans - CEO interview, part two
- How could a TTIP affect the food industry?
- Brexit – Live reaction from food industry
- Kellogg to invest in "next-generation innovation"
- Post, ConAgra 'held talks' over Lamb Weston merger
- R&R Ice Cream names Daniel Martinez new CFO
- Mars takes UK chocolate brands into trail mixes
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights