China Yurun Food Group, a leading meat product processor, posted a 78.7% rise in net profit for the 12 months ended 31 December 2007, as a result of rising pork sales.
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Net profit rose from HK$481m (US$110m) last year to HK$859m this year. Revenue also saw a year-on-year rise of 86.9% to HK$8.64bn, the company reported.
The chilled meat and low temperature meat product business remained the main growth driver of the group’s overall revenue in 2007. The former hit HK$1.75bn, up 51.2% from the previous year and the latter jumped 124.6% to HK$4.7 bn.
“Through economies of scale, selective capacity expansion, strong R&D and nimble pricing strategy, we have achieved robust turnover growth,” said Zhu Yicai, chairman of Yurun.
The Hong Kong-listed company is hoping to focus on brand-building, diversifying distribution channels and penetrating mid- to high-end markets to achieve higher profit margins for the future, it reported.
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