Pine Agritech posts 60.6m yuan net profit

Nov 10, 2005
The Business Times

SOYBEAN product manufacturer Pine Agritech yesterday announced a third quarter net profit of 60.6 million yuan ($12.8 million), up 50.4 per cent from 40.3 million yuan last year. It said the growth was driven by higher sales for all products. Turnover grew 36 per cent to 203.2 million yuan for the quarter. Pine Agritech recently set up new facilities to expand its production capacity in Shandong. It will begin to export one of its core products to Europe and South-east Asia in June. It expects further growth in these markets next year. For the nine months ended Sept 30, net profit rose 82.5 per cent to 168.5 million yuan.