CHINA: China Huiyuan Juice Group swings to black in H1
- China Huiyuan Juice Group returns to profit in H1 to earn CNY149.1m (US$23.2m)
- EBITDA soars by 272.9% to CNY184.8m
- Sales climb by 23.3% to CNY1.83bn
- Profits driven by expanded sales network and new products and facilities
China Huiyuan Juice Group returns to profit in H1
China Huiyuan Juice Group has returned to profit in the first half of this year, boosted by an expanded sales network, new product launches and the construction of several factories.
The soft drinks maker recorded net profits of CNY149.1m (US$23.2m) in the six months to the end of June compared to net losses of CNY72.2m in the prior-year period. EBITDA soared by 272.9% to reach CNY184.8m, the company said today (19 August).
Sales in the period climbed by 23.3% to CNY1.83bn, driven by an increase in sales from all of the group's core juice products.
“In the first half year of 2011, the group continued to focus on improving the efficiency of sales network and implementing flexible marketing strategies, enhancing communications with the distributors and consumers, and sales of the core products to meet consumer needs,” said China Huiyuan Juice Group's chairman, Zhu Xinli. “In the future, we will strive to maintain as a market leader and further expand our market share.”
Click here to view the earnings release.
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