Chinese meat producer People’s Food Holdings has reported a 25% rise in first-quarter net profit and has reiterated its forecast that second-quarter results would be hit by the SARS outbreak in China.
The company reported net profit of 220.4m yuan (US$26.6m) for the quarter, compared to 176.3m yuan in the year-ago period. First-quarter revenue was up 29% to 1.4bn yuan on high demand for fresh pork.
Last week the Singapore-listed company said it was temporarily suspending pig slaughter at three factories in China because of the outbreak of Severe Acute Respiratory Syndrome (SARS).
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