Tingyi (Cayman Islands) Holding Corp., the Hong Kong-listed food and beverage maker, today (24 November) booked a 20% leap in third-quarter profits on the back of soaring sales.
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The company, which makes noodles, sandwich crackers and soft drinks under the Master Kong brand, posted net profit of US$91.9m for the three months to 30 September, a rise of 20.1% on the year.
Turnover jumped 32.8% to $1.32bn as sales from Tingyi’s three divisions – noodles, beverage and bakery – all rose.
Noodles sales increased 32.9% to $542m, while beverage sales reached $704m, a rise of 34%. Tingyi’s bakery sales stood at $46m, up 35.4%.
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By GlobalData
