China's Yuhe reports higher sales, profit for Q3

Yuhe International Inc., a leading supplier of day-old chicks raised for broiler production in China, has reported a net revenue of US$13.2 million for the third quarter ended September 30, 2009, which was an on-year increase of 37.4 percent.

In the third quarter, the company's gross profit margin had risen to 39.1 percent, compared to 26.2 percent in the same period last year.

Meanwhile, Yuhe's operating income grew by 166.1 percent to US$4.3 million while net income rose 114.8 percent to US$4.1 million.

Gao Zhentao, CEO of Yuhe International, said the company achieved record quarterly revenue and net income due to its capacity expansion and stable customer relationships. He added that the company is confident that demand for its day-old broilers will remain strong in the fourth quarter of the year.

For the first nine months ended September 30, 2009, Yuhe's net revenues reached US$34 million, a rise of 90.7 percent compared to the same period last year. The company's gross profit grew 153.8 percent to US$12 million, as compared to US$4.7 million achieved in the same period last year. Meanwhile, Yuhe's net income for the nine-month period was US$9.2 million, up 208.7 percent compared to the same period of 2008.