The director and vice-chairman of United Food Holdings, Wang Tingbao, explained to analysts yesterday [Tuesday] that it will be watching the market closely to gauge the reception to sector rival People’s Food Holdings’ potential listing in Hong Kong before it decides whether and when to list itself.
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Wang commented: “We have plans to list in Hong Kong, but we will be closely watching the share performance of People’s Food Holdings first. We have not set a timeframe yet.”
The China-based manufacturer of processed meat products also unveiled this week a 27.3% increase in H1 turnover year on year, to S$264.6m (US$151.5m). It explained that this was largely due to stronger demand. Net profit climbed 26.6% and net margin was stable at 16.4%.
