November 3, 2008

China Kangda Food reported that net profit for the third quarter of 2008 had increased 5.9 percent on-year to RMB 32.95 million (US$4.8 million).

Revenue rose 28.2 percent to RMB 244.01 million (US$35.7 million), and the good results were partly attributed to strong sales of chicken meat.

Net profit from January to September grew 21.9 percent on-year to RMB 93.2 million (US$13.6 million), while revenue jumped 40.1 percent to RMB 700 million (US$102.3 million). During the Jan-Sep period, chicken meat sales surged 76.4 percent.

The company's net operating cash flow also soared 627 percent to RMB 110 million (US$16.1 million), according to Kangda.