WH Group profit tumbles to US$463m

Business | 13 Aug 2019 6:03 pm

Chinese pork producer WH Group (0288) reported that first-half net profit fell by 16.9 percent year-on-year to US$463 million.

Revenue slid by 0.4 percent year-on-year to US$11.13 billion.

The basic earnings per share were 3.15 US cents.

WH Group declared an interim dividend of 5 HK cents.

The packaged meats segment, the core business, accounted for 52.9 percent of total revenue in the first half and 99.5 percent of operating profit. The packaged meats sales volume grew by just 0.4 percent to 1.61 million metric tons and revenue fell 0.3 percent year-on-year to US$5.89.

Operating profit dropped by 3.4 percent to US$761 million.

 

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