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
Nevin Barich
LOS ANGELES
,
November 14, 2011
(Industry Intelligence)
–
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.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.