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Want Want China Full-Year Net Profit Rose

   By Justina Lee 
 

Want Want China Holdings Ltd. said Tuesday that its full-year net profit rose slightly, helped by a better product mix and cheaper raw materials.

Net profit for the year ended March was 3.65 billion yuan ($514.7 million), compared with CNY3.48 billion a year earlier, the rice-cake maker said.

Revenue fell 3.0% to CNY20.09 billion as the coronavirus pandemic weighed, the company said.

Want Want China said its sales in February and March suffered due to the pandemic's impact on the overall supply chain but began to recover in April to May.

The company said it expects its overseas market to be a growth engine, adding that several sales entities in Southeast Asia are scheduled to begin operations this year.

 

Write to Justina Lee at justina.lee@wsj.com

 

(END) Dow Jones Newswires

June 16, 2020 00:52 ET (04:52 GMT)

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