China Yurun reports 53.4% rise in '09 profits

Meat products company China Yurun Food Group said its net profit for 2009 went up by 53.4% year-on-year to HK$1.75 billion (US$225 million).

Diluted earnings per share amounted to HK$1.074, up 45.9% on a year ago.  The company announced a final dividend of HK$0.15, up from HK$0.08, and a total annual dividend of HK$0.30, compared to HK$0.19 for 2008.

Gross profit for the year was HK$2.2 billion, up by 27.9%, with the gross profit margin rising 2.6 percentage points to 15.6%.

Consolidated revenue was increased 6.5% to HK$13.87 billion. Revenues from processed meat products grew by 11.6% to HK$3.29 billion. Sales of chilled pork stood at HK$9.42 billion, up by 15.9%, while sales of frozen pork dropped by 19.2% to HK$2.33 billion.