Duck processor Anhui Taiyang Poultry Co. Inc. reported a net income of $2.1 million for the first half of 2011 (ending June 30), compared to $3 million for the same time in 2010, a change of -30.3%.
According to the company, its breeding unit gained 140.8% in revenue over 2010 ($8.7 million over $3.6 million) while its feed and food units both dropped. Anhui's feed unit brought in $2.8 million in the first half of 2011, compared to $4.9 million during the same time in 2010, a 41.7% loss, while the company's food unit brought in $4.6 million compared to 2010's $11.2 million, a 59.2% drop from 2010 numbers.
"The price of ducklings remained relatively high during the second quarter of 2011," said Wu Qiyou, CEO and chairman of the board of directors. "We therefore found it financially beneficial to continue to focus our sales effort on our breeding unit, which resulted in higher gross margins but contributed lower overall revenue growth."