Henan Shuanghui Shows Appetite for Growth03 July 2013
CHINA - Henan Shuanghui Investment & Development, a major meat processor in China, reported a major rise in half-year profits on Monday (1 July).
Shuanghui saw profits of 1.6-1.7 billion yuan ($250 million-$275 million) in the first half of this year, an increase of 59-66 per cent year-on-year.
Rising domestic demand and sales, product portfolio adjustment and lowering costs, helped the profit surge, it said.
At the end of May, Shuanghui announced a $7.1 billion purchase of Smithfield, the biggest pork producer and supplier in the United States.
TheMeatSite News Desk