Wilmar International : Yihai Kerry Arawana 9-Months Net Profit Rose 46% on Year

By Yifan Wang

Yihai Kerry Arawana Holdings Co.'s net profit jumped 46% in the first nine months of the year, as its feed-ingredients business recovered from the impact of an African swine fever outbreak in China.

Net profit for the January-to-September period came to 5.09 billion yuan ($760.5 million), the Chinese unit of Southeast Asian agribusiness giant Wilmar International Ltd. said late Friday in its first earnings filing since listing on the Shenzhen stock exchange last month.

Revenue rose 12% from a year earlier to CNY139.99 billion, thanks to solid growth in kitchen food sales, as well as the recovery of the feed-ingredients business, which has been pressured by weak demand from hog raisers amid the African swine fever outbreak in China.

Write to Yifan Wang at [e-mail]

(END) Dow Jones Newswires

11-01-20 2023ET