Q3 earnings for Chinese instant noodle and beverage maker Tingyi Holdings fall 34.9% year-over-year to US$130.59 million amid slower sales in high inflation environment

LOS ANGELES , November 14, 2011 () – Third-quarter earnings for Chinese instant noodle and beverage maker Tingyi Holdings fell 34.9% year-over-year to US$130.59 million amid slower sales in a high inflation environment, Reuters reported Nov. 14.

However, the result beat an average forecast of $115 million from three analysts.

Gross margin for the third quarter was 27.14%, compared with 30.64% in the year-ago period, as raw materials prices affected gross profit.

The primary source of this article is Reuters, London, England, on Nov. 14, 2011.

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