China Agri-Industries Holdings Limited (00606.HK) held the press release conference and analyst meeting for its mid-term performance in Hong Kong on August 28, 2013. Senior management were present exchanging views with investors and media on the first-half-year performance, the second-half-year projection, the future development strategy and the outlook.
The first half year witnessed a notable increase especially in sales of medium-packaged oil, sweetener and flour and also market share and influence. Rice business saw a favorable turn. The gross and net margin increased remarkably compared to the same period of last year thanks to new purchase means the company adopted, its professionalism in hedging and appreciation of RMB. The gross margin was 6.9% in the first half year, a 0.6 percentage point increase over the same period of last year. The attributable net profit reached HK$ 660 million, a 33% increase compared to the same period of last year.
The second half year projected a moderate recovery of China’s economy. An increase would maintain in per capita income and consumption. The downstream market would see the hot season coming in the Mid-Autumn Festival, the National Day, the New Year’s Day and the Spring Festival. Confidence was building up in grain supply. Bulk farm-products projected a decrease in price. So pressure would be relieved in business.
China Agri-Industries Holdings Limited had completed its geographic expansion. Its next move would focus on operation. Its professionalism would help it enhance its market leadership and lay cornerstone for its strategic development.
