Rice cracker maker Want Want China saw annual profit slide 19.8%

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Want Want China, one of the world’s largest rice cracker and flavored drink manufacturers reported a revenue of 22.928 billion yuan for the year ended March, falling 4.4% from a year earlier. 

Net profit reached 3.372 billion yuan, sliding 19.8% from a year earlier, with earnings per share at 28.35 cents. 

Gross profit margin declined by 0.9 percentage points year over year to 43.9% due to the increase in prices of certain bulk raw materials. Operating profit fell 11.2% to 4.847 billion yuan. Operating profit margin was 21.1%, down 1.7 percentage points.