Edible oil, grain supplier Yihai Kerry Arawana’s H1 net profit halved from a year ago, shares hit new record low
COMPANY NEWS MARKET STOCKS
Edible oil, grain supplier Yihai Kerry Arawana’s H1 net profit halved from a year ago, shares hit new record low
COMPANY NEWS MARKET STOCKS

Edible oil, grain supplier Yihai Kerry Arawana’s H1 net profit halved from a year ago, shares hit new record low

 

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Chinese edible oil and grain supplier Yihai Kerry Arawana Holdings’ net profit for the first half of the year sank 51.1% year over year to 966 million yuan, and net profit in the second quarter plunged 99.4% to 112 million yuan.

The price of soybeans has gone up but the price of its soybean oils has stayed low, the company said. 

But revenue stayed largely flat with the previous year, dipping just 0.6% to 118.7 billion yuan as sales of Kerry Arawana’s foodstuffs, raw materials and edible oils increased from a year earlier.

Kerry Arawana’s share shares tumbled 10% to close at at 37.04 yuan, marking a new record low.