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Henan Shuanghui Shows Appetite for Growth

by 5m Editor
3 July 2013, at 7:19am

CHINA - Henan Shuanghui Investment & Development, a major meat processor in China, reported a major rise in half-year profits on Monday (1 July).

Shuanghui saw profits of 1.6-1.7 billion yuan ($250 million-$275 million) in the first half of this year, an increase of 59-66 per cent year-on-year.

Rising domestic demand and sales, product portfolio adjustment and lowering costs, helped the profit surge, it said.

At the end of May, Shuanghui announced a $7.1 billion purchase of Smithfield, the biggest pork producer and supplier in the United States.