Chinese food and beverage group Want Want China Holdings has posted a 6% fall in half-year profits as the company lapped a first half of 2008 boosted by one-off gains.
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The company, which makes snacks, rice crackers, yoghurt drinks and beverages, said the drop in earnings came despite rising sales.
Want Want booked a 6.4% fall in profits attributable to the company’s equity holders to US$120.8m for the six months to June. Operating profit slid 8% to $137.8m.
Revenues, however, rose 12.5% to $798.1m, boosted by higher selling prices for rice crackers and dairy products.
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By GlobalData
