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Sino Grandness 2Q earnings fall 33% to $21.5 mil on revenue decline

Michelle Zhu
Michelle Zhu8/11/2017 5:30 PM GMT+08  • 2 min read
Sino Grandness 2Q earnings fall 33% to $21.5 mil on revenue decline
SINGAPORE (Aug 11): Sino Grandness Food Industry Group reported earnings of RMB105.1 million ($21.5 million) for 2Q17 ended June, down 33.4% from RMB157.7 million in 2Q16.
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SINGAPORE (Aug 11): Sino Grandness Food Industry Group reported earnings of RMB105.1 million ($21.5 million) for 2Q17 ended June, down 33.4% from RMB157.7 million in 2Q16.

The weaker bottomline comes on the back of a 16.7% decline in revenue to RMB939.9 million in 2Q17 compared to RMB1.1 billion in 2Q16.

Lower revenue over the half-year period was attributable to lower sales of beverages as well as canned markets in both domestic and overseas markets, with the decrease in sales revenue from the beverage segment due to changes in the consumption environment of the domestic beverage market in China, says Sino Grandness in its regulatory filing to the SGX on Friday.

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