CHINA/US: SkyPeople Fruit Juice profits climb in 2010
- FY net profits increased by 39.5% to US$21.2m
- Sales climbed by 57.4% to $93.2m
- Operating profits reached $31.9m, a 52.6% improvement on 2009
- Company "well-positioned" to fund expansion plans in 2011
SkyPeople Fruit Juice has said it is “well-positioned” to fund expansion plans in 2011
SkyPeople Fruit Juice, the US-listed juice producer operating in China, has recorded an increase in full-year profits, boosted by "significant growth" in apple concentrates.
For the year to the end of December, profits increased by 39.5% to US$21.2m, the company reported yesterday (31 March). Operating profits reached $31.9m, a 52.6% improvement on 2009.
Sales climbed by 57.4% to $93.2m.
In the fourth quarter, SkyPeople Fruit Juice earned $11.2m, an increase of 9.8% on 2009, while operating profits grew by 3.7% to $15.6m. Sales in the quarter amounted to $43.9m, up 22.6% on the prior-year.
"Due to seasonality, we normally witness kiwifruit concentrates and fresh fruits as the dominant contributor to revenues in the quarter,” said SkyPeople Fruit Juice's CEO, Yonkue Xue. “This year, however, we witnessed triple-digit growth from our apple concentrates and production. I am especially proud of the four-fold increase in fruit beverage sales, which was driven by a broader distribution footprint, the addition of new retail locations, and reorders from existing customers.”
Looking ahead, Xue said the firm is “well positioned to fund our expansion plans and working capital needs for 2011”.
Click here to view the full earnings release.
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Will a sexed-up SABMiller tempt AB InBev?
- Is Brown-Forman at the end of the SoCo road?
- Making consumers the centre of your business
- AB InBev makes formal offer for SABMiller
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- Brito gives call to arms to SABMiller shareholders
- Carlsberg UK chief James Lousada quits
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research