Noodles maker Tingyi profit rises to 1.5b yuanBusiness | 26 Aug 2019 5:10 pm
Chinese instant noodles producer Tingyi Cayman Islands (0322) posted a 15.05 percent increase in first-half net profit to 1.5 billion yuan, thanks to the improvement of gross margin, as well as cost cuts.
The basic earnings per share were 26.74 fen.
Revenue fell by 1.62 percent year-on-year to 30.5 billion yuan. Revenue from instant noodles increased by 3.68 percent to 11.54 billion yuan while beverages dropped by 4.08 percent to 18.36 billion yuan.
Gross margin expanded by 0.70 percentage points to 31.93 percent.