August 25, 2014
Yurun Group reports drop in H1 operating income and profit
Yurun Group reported operating income of HKD9.044 billion (US$1.17 billion) for the first half of 2014, down by 12% compared to HKD10.303 billion (US$1.33 billion) in the same period of last year.
Profit loss amounted to HKD197 million (US$25.42 million) in the same period. The company attributed the poor performance to falling pork prices in the Chinese market this year.
Yurun Group's sales revenue fell across the board of its main products. Revenue from chilled and fresh pork was down 9% to HKD7.125 billion (US$919.32 million), that from frozen pork plummeted 21% to HKD1.025 billion (US$132.25 million), low-temperature processed meat products slipped by 2% to HKD1.303 billion (US$168.12 million), and that of high-temperature processed meat products plunged 21% to HKD123 million (US$15.87 million).