CHINA: People’s Food posts near 34% rise in 2002 net profit
China’s largest pork producer People’s Food has reported a 33.8% rise in 2002 net profit, attributable to strong demand for the company’s pork products. The Singapore and Hong Kong listed company posted a net profit of 822.8m yuan (US$99.4m) for 2002, compared with 614.8m yuan for 2001. The company’s revenue for 2002 was up 19.4% to 5.1bn yuan.
China’s largest pork producer People’s Food has reported a 33.8% rise in 2002 net profit, attributable to strong demand for the company’s pork products.
The Singapore and Hong Kong listed company posted a net profit of 822.8m yuan (US$99.4m) for 2002, compared with 614.8m yuan for 2001. The company’s revenue for 2002 was up 19.4% to 5.1bn yuan.
In October, People’s Food raised its 2002 net profit forecast to at least 811m yuan.
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