May 2, 2011
China's Haid Group reports increase in earnings
Feed producer Guangdong Haid Group, reported a rise in net profit of 36% to RMB210 million (US$32 million) in 2010.
Sales revenue last year rose 46.66% to RMB7.68 billion (US$1.18 billion), with earnings per share (EPS) of RMB0.72 (US$0.11). The Guangzhou-based firm announced a stock dividend of 10 shares and a cash dividend of RMB2 (US$0.31) for every 10 shares held.
The company sold 2.38 million tonnes of animal feed in 2010, of which sales of fish feed were 1.06 million tonnes and poultry feed were 1.32 million tonnes.
Revenue from southern China rose 34.74% and accounted for 68.93% of Haid Group's total revenue in 2010. Revenue from eastern and central China respectively rose 87.7% and 78.81%.
The company hopes to increase annual feed production capacity by one million tonnes per year over the next few years and thus expand its market share.