Advertisement

News and analysis on the global poultry
and animal feed industries.
on August 17, 2009

Chinese pork producer reports profits

Zhongpin plans capital projects for expansion.

Zhongpin, among China's biggest pork-product suppliers and the only pork company that trades in the U.S., has announced that its revenue in the second quarter rose 17.7% over the same period in 2008 to $161.8 million, according to a news report.

Prepared pork products were up 54.5% to $20.4 million. Chilled pork revenue rose 15.9% to $83.3 million while frozen pork grew 12.2% to $55 million. The company has said it expects 2009 revenue to reach $780 million to $810 million, up from $540 million in 2008.

It still forecasts full-year earnings of $1.50 to $1.63. The company will reportedly spend $93.5 million over the next 12 months on capital projects. Zhongpin expects pork prices to increase about 10% in the third quarter and then stabilize at that level in the fourth quarter.

Comments powered by Disqus