By P.R. Venkat

Tingyi (Cayman Islands) Holding Corp.'s first-half net profit jumped 58%, as pandemic-related restrictions led to higher consumer demand for its instant noodles.

Net profit was 2.38 billion yuan ($345.6 million), while revenue rose 8% to CNY32.93 billion, the company said Thursday.

"The middle and late stages of the Covid-19 [pandemic] have been accompanied by the growing needs of household consumption," it said.

Tingyi said it prioritized supply of products for e-commerce platforms and other modern channels during the period, which helped boost sales of instant noodles.

Its noodles business, which accounts for more than 45% of the group's business, recorded a nearly 30% growth to CNY14.91 billion.

The company said its board isn't declaring an interim dividend for the period. 



  Write to P.R. Venkat at venkat.pr@wsj.com