Tingyi: 1st Half Net Profit CNY700.2 Million; Up 55% on Year

Published August 21, 2017
Dow Jones Newswires

Tingyi (Cayman Islands) Holding Corp. (0322.HK) Monday reported a 55% rise for its first-half net profit, thanks partly to sales volume growth.

The Chinese instant noodle producer said the net profit for the six months ended June rose to 700.2 million yuan (US$105 million) from CNY453.0 million a year earlier, while its first-half revenue rose 4.2% to CNY28.57 billion.

For the April-June period, the company's net profit jumped over three times to CNY266.7 million from CNY 77.0 million a year earlier. Its April-June revenue rose 4.7% from a year earlier to CNY14.37 billion.

The company didn't declare an interim dividend.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 21, 2017 00:50 ET (04:50 GMT)