• Nine month net profits slip 31.9% to US$5.12m
  • YTD net sales rise 21% to $58.6m
  • Operating profits flat at $11m
  • Q3 sales up 79%, net profits rise 45% 

SkyPeople Fruit Juice has seen a strong third-quarter bring its sales back to growth, but net profits are still down on last year. 

The China-based producer of fruit juice concentrates, fruit juice beverages and other fruit-related products said today that net profits in the nine-months to the end of September fell by 31.9% to US$5.12m. Sales in the period rose 21% to $58.6m, while operating profits were flat at $11m. 

The company recovered strongly in its third quarter, with sales up 79% to $34.8m, helping net profits climb 45% to $4.7m. In August, the group reported half-year sales were down 18% year-on-year. 

"China's rising incomes, we believe, are speeding the transition in consumer tastes towards healthy living, including the increased consumption of high-quality fruit juice beverages," said Xue Hongke, SkyPeople's CEO. "We are... well positioned to capitalise on this trend and to continue to capture additional market share." The company also sells its products in overseas markets. 

Shares in SkyPeople Fruit Juice were today trading up 35% at US$1.31