Cooking sauce maker China Food Co. saw its net profit jump 74.8% in the first half of 2010 on the back of strong revenue growth.
In the six months to end 30 June, net profit reached GBP1.1m (US$1.7m). The company saw turnover increase 22.7% to GBP17.2m, while EBITA grew 37.5% to GBP2.4m.
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China Food announced today (20 September) that it is now well positioned for future growth, with a new factory opening, giving the company the capacity to more than double its annual soya sauce production.
It added, however, that it expects its second-half results to be impacted by the ongoing costs of expansion.
Chairman John McLean said: “Having been through a significant period of development, the group is now in a strong position with all working capital requirements met, and the new factory now operational. The board anticipates a slightly flatter second half; however this is due to the group incurring costs of expansion now in order to reap the rewards later.”
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