Higher demand for pork during the Chinese New Year has boosted quarterly profits at Chinese meat processor Zhongpin.
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The company today (12 May) posted a 68% jump in operating profit to US$7.8m for the three months to the end of March. Revenue almost doubled, soaring 95% to $108.7m.
Zhongpin was able to command a higher price for its pork products and also won a number of foodservice contracts during the quarter.
CEO Xianfu Zhu said the first quarter of the year, including the Chinese New Year holidays, is traditionally a strong quarter for the company.
“We were able to sell our high quality, healthy and nutritious pork products at premium prices, which had a favorable impact on gross margin,” Zhu said.
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