China Minzhong Food's third-quarter net profit up 5.9% to 255 million yuan

China Minzhong Food Corp has posted a 5.9 per cent year-on-year rise in its net profit for the third quarter to 255 million yuan (S$51.4 million). Revenue for the three months ended March 31 rose 28 per cent to 962 million yuan on higher sales.

Earnings per share for the third quarter stayed flat at 0.43 yuan, while net asset value per share rose to 7.03 yuan from 6.44 yuan at the end of June last year.

Looking ahead, the firm said vegetable demand remains healthy, buoyed by rising urbanisation and increased preference for healthy eating.

"On the overseas front, the group continues to benefit from the increasing trend of food manufacturers seeking cost competitive and consistent supply of raw materials for their production," the company said.