December 8, 2010

CP China Investment H1 net profit up 6%

For the six months ended June 30, CP China Investment (CPI) recorded an interim net profit attributable to owners of US$39.186 million, a rise of 6% from US$36.963 million in the same period last year.

This is the interim financial results of the newly acquired CPI, which is mainly engaged in feed business.

The revenue was US$953 million, an increase of 10.6% from a year earlier, mainly driven by the strengthened promotion of swine feed.

However, the CPI Group's overall gross margin edged down slightly from 15.1% to 13.7% as higher raw material costs were not fully passed through due to depressed pork selling prices despite CPI Group's efforts to raise average feed selling prices.