American Lorain has booked an increase in sales and earnings for 2011 as it invested in building its brand and increasing consumer acceptance of products.
The Junan-based snack and convenience food group booked a 15.8% increase in group revenue in 2011, with sales rising to US$213.2m. Gains were driven by a 16.3% increase in domestic sales, as the company benefited from its drive to “expand” its brand name, chairman and CEO Si Chen commented.
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Gross profit for the year rose 7.5% to $45m and net income climbed 11.5% to $19.9m, the company revealed.
“We are very pleased with our growth during the year,” Si said. “We have continued to benefit from our existing long-term supplier and customer relationships, and continued to make diligent efforts for consumer acceptance of products. Despite the uncertain global economic environment and a very stringent credit environment in 2011, we have remained growing and profitable.”
