Hong Kong-based Tingyi (Cayman Islands) Holding Corp. has booked a 44% leap in first-half profits on the back of strong sales in China.
Tingyi, which makes instant noodles, beverages and baked products, recorded net profit of US$95.8m – a rise of 44.1% – for the first six months of the year.
The company, which sells its products under the Mr Kon brand name, posted a 35.2% leap in revenue to US$1.5bn.
Tingyi said it shrugged off what is traditionally a slow second quarter for instant noodles with sales up over 50%.
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