November 18, 2013

Tianli's Q3 revenue rises by 33% on-year
 

Tianli Agritech, Inc. (Tianli) posted revenue of US$8.73 million for the third of 2013, representing an increase of US$2.15 million, or 33% on-year, compared to US$6.57 million for the same period of 2012.

The company attributed the increase in sales of its breeder hogs and commercial hogs, as well as the contribution from retail operations that resumed in April this year to the profit gains.

Tianli sold a total of 37,616 breeder hogs, commercial hogs and black hogs at an average price of US$232/head in the third quarter, compared to 29,702 hogs sold and an average selling price of US$221/head for the same period of 2012.

Tianli's sales of breeder hogs increased by 16% to US$2.14 million with the number of breeder hogs sold rising by 19% to 7,605 head, while the average selling price dropped by 2% to US$282/head. Sales of commercial hogs increased by 9% to US$5.17 million as the number hogs grew by 3% to 23,951 head, while the average selling price climbed by 6% to US$216/head.

The company also sold 5,323 black hogs at an average selling price of US$230/head, generating US$1.23 million in revenue, while the revenue from retail operations reached US$0.19 million in the same period.

Chairwoman and CEO of Tianli, Hanying Li commented, "On the back of a gradual recovery of pork prices and strong growth momentum for our black hog programme and retail operations, we are very pleased to report our third quarter financial results that highlighted 33% top-line growth and the return to profitability after more than a year."