Chinese broiler producer net income increases 107%

Yuhe International Inc.’s net income for the first quarter of 2011 reached $6.07 million, gaining 107% over the same time in 2010, according to the company’s latest report. The sales volume of day-old broilers for the first quarter of 2011 amounted to 51.86 million birds with an average selling price of RMB 3.20 (US$0.49) per bird, as compared to the sales volume of 25.56 million birds with an average selling price of RMB 2.91 (US$0.45) per bird in the first quarter of 2010.

Yuhe International Inc.'s net income for the first quarter of 2011 reached $6.07 million, gaining 107% over the same time in 2010, according to the company’s latest report.
The sales volume of day-old broilers for the first quarter of 2011 amounted to 51.86 million birds with an average selling price of RMB 3.20 (US$0.49) per bird, as compared to the sales volume of 25.56 million birds with an average selling price of RMB 2.91 (US$0.45) per bird in the first quarter of 2010. The increase in sales volume of day-old broilers was a result of capacity expansion, according to Yuhe, while the increase in average unit selling price was related to the pass-through of the increased corn price in 2010. Sales of day-old broilers accounted for $25.16 million, or 93.68%, of the company's net revenue for the first quarter of 2011.
“Given the expected strong day-old broiler market in 2011 and the fact that the capacity ramp-up from the previous acquisitions will continue to contribute to the company's sales volume of day-old broilers throughout 2011, the management of Yuhe International remains confident in the company's capability to generate strong operational and financial results in 2011,” said the report.
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