China snackmaker Want Want posts record profit

Want Want China Holdings, the country’s top food and beverage maker and distributor by market value, posted a 32 per cent rise last year net profit on Tuesday, largely as a result of soft raw material prices.

Want Want, known in China for its rice crackers and snacks, posted a record net profit of US$553.8 million for the year ended December, up from US$419.5 million a year earlier and in line with market expectations of US$556 million according Thomson Reuters Starmine SmartEstimate.

Turnover grew 14 per cent to US$3.36 billion (HK$26.58 billion).

via Business feed http://www.scmp.com/business/companies/article/1179209/china-snackmaker-want-want-posts-record-profit