People's Food enjoys fatter profit in third quarter
People's Food Holdings today reported a 9.5 per cent rise in third quarter net profit to 94.6 million yuan (S$18.6 million).
This was despite revenue falling 3.3 per cent to 4.18 billion yuan, due mainly to lower average selling price achieved.
Earnings per share grew by 9.4 per cent to 8.37 fen while net asset value per share increased to 4.76 yuan from 4.65 yuan as of Dec 31.
The pork producer warned that the moderation in the growth of the Chinese economy has resulted in lower consumer spending power, which would have an adverse impact on the group's business.