China Agri-Industries (00606) said it reported a loss attributable to owners of HK$290 million for the six months ended 30 June 2014, as compared to the profit of HK$707 million for the same period in 2013, due to the loss generated by the oilseeds processing business amid an unprecedentedly severe operating environment.
Its basic and diluted loss per share was HK5.53 cents.
The revenue was HK$44,964 million, an increase of 11.8% from a year earlier. The overall gross profit margin decreased by 3.4 percentage points to 3.7%.
No interim dividend will be distributed.
Besides, China Agri-Industries recorded a loss attributable to owners of about HK$664 million for the first seven months of 2014. It is expected that the group will face a loss-making pressure for the second half of 2014. The cost of soybeans purchased in the first half of 2014 was comparatively high and a subsequent drastic decline in soybean market price in July has resulted in a loss for processing of goods in that month.
27/08/2014 14:18
China Agri (00606) 1H net turns red to HK$290m; no div
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