August 26, 2010

Rongfu Aquaculture posts solid Q2 results

Rongfu Aquaculture Inc on Wednesday (Aug 25) reported a 67% surge in revenue and a rise of 30% in net income for the second quarter of fiscal year 2010 ended June 30.

The opening of a new sales centre in Hangzhou will provide a foothold for sales expansion in eastern China, the Guangdong-based company said.

In addition, Rongfu was appointed as the only company in Guangzhou authorised to use the new technology of transporting live fish from southern to northern China by train, which should enable the company to vastly expand its distribution in northern China

The company also recently received a contract to manage the 3,300 acre Qingqi aquaculture park, the first implementation of its co-op model.