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.
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.
