October 31, 2013

New Hope Group's profit rose 14% in third quarter

New Hope Group realised an operating income of RMB19.92 billion (US$3.27 billion) in the third quarter of 2013, representing a slight increase of 0.6%; while its net income totalled RMB543 million (US$89.08 million), a rise of 14%.

With the rise in hog prices and the recovery in the poultry market, the company's performance had improved in the third quarter. Director of the New Hope Group, Tao Xu, says that the company's feed sales in the third quarter reached the highest level since the start of 2013.

New Hope Group engages in the production and sale of feed, meat, and dairy and poultry products. It is involved in livestock breeding, animal feed manufacturing, slaughtering and meat processing, as well as animal disease prevention.