Chinese food and beverage maker Tingyi Holding Corp has posted a profit increase of nearly 250% in its 2017 second quarter results.
The company has said that the increase is due to solid noodle sales and its beverage business benefiting from warm weather.
Tingyi, owner of the Master Kong brand, said profit rose 246% to CHY 266.70 million ($39.98 million), compared to CHY 77 million in the same period last year, while revenue also rose 4.2% to CHY 28.4 billion.
Wei Ing-Chou, chairman of Tingyi, said: “We would introduce multi-price strategy to meet with the rise of middle class consumption trends, and to further optimise our product in order to maintain an effective revenue management.”
The firm has said it is optimistic about the prospects for the China market despite a slowing economy and rising material costs.
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