• FY profits drop by 15% to CNY198.3m (US$30.2m)
  • Sales increase by by 30.9% to CNY3.71bn
  • EBITDA soars 244% to CNY550.3m
  • Sales of the group's core juice products rise by 26.4%
China Huiyuan Juice Group recorded a decline in full-year profits

China Huiyuan Juice Group recorded a decline in full-year profits

China Huiyuan Juice Group has recorded a decline in profits for 2010.

For the 12 months of last year, the group posted a 15% drop in profits to CNY198.3m (US$30.2m), it reported today (22 March). EBITDA however, soared by 244% to CNY550.3m.

Sales in the period climbed by 30.9% to CNY3.71bn, while sales of the group’s core juice products increased by 26.4% to CNY3.40bn.

“The great potential in China’s consumer market has attracted renowned multinational beverage producers to increase their investments in China, resulting in increasing competition within the industry,” the company said in a statement.

In response to the changing market conditions, the company said it expanded its production and sales across the country in 2010 and opened five factories during the year.

Click here to view the full earnings release.