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Hongkong Earnings Analysis: 
Tingyi Net Rises 43%
Author: Trupti Mehta
123jump.com
Last Update: 5:37 AM ET May 25 2009


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Tingyi Holding Corp first quarter sales rose 21% to $1.18 billion and net profit rose 43% to $93 million or $1.66 a share.

 
10:00AM Hongkong, China - Tingyi Holding Corp sales rose 21% and net profit rose 43%.

Tingyi Holding Corp, China’s biggest maker of packaged food reported first quarter sales rose 21% to $1.18 billion from $969.07 million a year ago. Net profit in the quarter rose 43% to $93 million or $1.66 per diluted share compared to net profit of $65 million or $1.16 per share a year ago.

Tingyi Holding Corp, in the last one year traded as high as HK$11.92 in March 2009 and as low as HK$6.62 in October 2008. Based on the yesterday’s closing price of HK$11.40 the company has market cap of HK$63.69 billion.
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