Chinese infant formula company Synutra International attributed sequential growth in shipment volumes to increased marketing efforts.
In preliminary data for the fourth quarter to the end of March, the company said it expects revenue to rise to US$99.5m. It forecast a net income range of $10-11m.
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Chairman and CEO Liang Zhang said: “Our business momentum continued to improve in our fiscal fourth quarter with sequential increases in both formula segment revenue and net profit. Our success in the fourth quarter was due to increased shipment volumes driven by the spring holiday season as well as our increased marketing efforts.”
The group will report its full-year earnings in mid-June.
