April 9, 2010

China's Tongwei 2009 net profit shows increase

Feed manufacturer Tongwei's net profit was up 41.3%, reaching RMB146.6 million (US$21 million).

Operating revenue rose 0.7% to RMB10.4 billion (US$1.5 billion), the company said in a statement to the Shanghai Stock Exchange on April 6.

Tongwei said it sold about three million tonnes of feed valued at RMB8.4 billion (US$1.2 billion) last year, including 1.5 million tonnes of aquatic feed, up 14.8 % from a year earlier, the statement said.

Sales of pig feed rose 31.3% to 453,000 tonnes, while poultry feed sales fell 13.6 % to one million tonnes.