May 27, 2008

China's Yuhe narrows Q1 net loss on strong poultry prices

China's Yuhe International trimmed its first quarter net loss to RMB2.1 million from RMB4.9 million last year due to stronger poultry prices.

Yuhe's first quarter revenue fell 12.8 percent to RMB18.2 million.

Company CEO, Gao Zhentao, said that despite a decrease in sales volume due to low production from breeders, favorable market conditions including sales prices which have almost doubled over the last year have minimized losses.

The company expects a net profit of RMB63 million in 2008, backed by expanded capacity.

US$1 = RMB6.94 as of May 27, 2008