April 21, 2014

Tangrenshen Group's net profit for 2013 down 28%

Tangrenshen Group's revenue for 2013 increased by 6% to RMB7.12 billion (US$1.14 billion), while net profit fell sharply by 28% to RMB127.20 million (US$20.42 million).

The company's gross profit also fell by 24% to RMB161.13 million (US$25.86 million).

Tangrenshen Group says the impact of bird flu outbreaks and fluctuations in hog prices, as well as sluggish demand in the Chinese market are the main reasons for the profit drop.