Tingyi Q1 net up
Source: Bloomberg News |
May 29, 2012, Tuesday
|
Print Edition
Print Edition
TINGYI (Cayman Islands) Holding Corp, China's biggest maker of packaged food, said yesterday that first-quarter profit rose 61 percent due to a provisional gain from its alliance with PepsiCo Inc.
Net income rose to US$198 million in the three months ended March 31 from US$123 million a year earlier, Tingyi said. Sales fell 5.2 percent to US$1.9 billion. Revenue, other than from its operations, which includes gains from a deal Tingyi signed with PepsiCo, surged to US$211 million from US$25 million a year earlier.
Net income rose to US$198 million in the three months ended March 31 from US$123 million a year earlier, Tingyi said. Sales fell 5.2 percent to US$1.9 billion. Revenue, other than from its operations, which includes gains from a deal Tingyi signed with PepsiCo, surged to US$211 million from US$25 million a year earlier.
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