Want Want China Nine-Month Net Falls 14% to CNY2.02 Billion

By Chester YungFeaturesDow Jones Newswires

Want Want China Holdings Ltd. (0151.HK) said late Monday its January-September net profit fell 14%, dragged down by higher costs of some raw materials and weaker sales.

The Hong Kong-listed maker of snack food and beverages said its net profit for the nine months ended September fell to 2.02 billion yuan (US$304.7 million) from CNY2.34 billion a year earlier. The nine-month net profit has achieved 64% of total 2017 net-profit estimate of US$474.33 million in a poll by S&P Capital IQ. The company's nine-month revenue fell 1.1% to CNY13.59 billion.

Continue Reading Below

For the six months ended September, the company's net profit fell 9.9% from a year earlier to CNY1.27 billion, while it revenue rose 6.3% to CNY9.01 billion.

It proposed an interim dividend of 0.48 U.S. cent per share for July-September period.

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

(END) Dow Jones Newswires

November 20, 2017 19:12 ET (00:12 GMT)