China Organic Agriculture today (16 April) reported a 52% jump in profits for 2008.
The company posted net income of US$20.5m for 2008 – up from $13.5m a year earlier.
China Organic said sales stood at $112.7m in 2008, compared to “zero” from continuing operations in 2007.
Due to the sale of its ErMaPao subsidiary last year, China Organic said “many figures” had been adjusted and listed as discontinued operations.
“Based on these revised numbers, comparisons to year 2007 for many numbers may not be practical,” China Organic said.
“We are pleased to deliver these fully-audited results for the 2008 fiscal year,” said CEO Jinsong Li. “China Organic showed strong gains in revenue, net income, EPS, and across the board for most significant financial numbers.”