February 26, 2014
Shuanghui Development's net profit soars 34% in 2013
Henan Shuanghui Investment & Development Co. Ltd.'s (Shuanghui Development) net profit surged 34% on-year to RMB3.86 billion (US$629.72 million) in 2013, according to the company's annual report released on February 25, 2014.
For the physical year 2013, the company posted an operating income of RMB44.95 billion (US$7.34 billion), up by 13% on-year.
The company produced 1.75 million tonnes of pork products in 2013, an increase of 13%; while the number of slaughtered pigs reached 13.31 million head, a rise of 16.6% on-year.
Shuanghui Development says that the primary reasons for the profit growth is the enhancement in management, change of product offerings, expansion of production and sales network, as well as the decrease in prices of raw materials.
The company expects to slaughter 1.7 million head of pigs and sell 2 million tonnes of pork products in 2014.