Article: CHINA AGRI-INDUSTRIES H1 COMPREHENSIVE PROFIT DOWN 40%


AsiaInfo Services
08-10-2009
China Agri-Industries H1 Comprehensive Profit Down 40%

HONG KONG, Aug 10, 2009 (SinoCast Daily Business Beat via COMTEX) -- China Agri-Industries Holdings Ltd. (SEHK: 0606) yesterday said that its unaudited comprehensive profit for the first half ended June 30, 2009 plunged about 40% from a year earlier.

In the first half of this year, prices of its products in the rapeseed processing business underwent a sharper decrease than the costs of its raw materials, which drastically pulled down its gross profit. In the beer-targeted raw material sector, its raw material costs failed to catch up the downward pace of its product prices, which also eroded its gross profit.

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