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Sino Grandness posts 18.3% drop in 1Q earnings to $9.1 mil

Stanislaus Jude Chan
Stanislaus Jude Chan5/15/2018 05:26 PM GMT+08  • 2 min read
Sino Grandness posts 18.3% drop in 1Q earnings to $9.1 mil
SINGAPORE (May 15): Sino Grandness Food Industry Group saw its earnings fall 18.3% to RMB 43.1 million ($9.1 million) for the 1Q ended March, from RMB 52.8 million a year ago.
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SINGAPORE (May 15): Sino Grandness Food Industry Group saw its earnings fall 18.3% to RMB 43.1 million ($9.1 million) for the 1Q ended March, from RMB 52.8 million a year ago.

This was mainly due to higher distribution and selling expenses as well as lower gross profit margin during the quarter.

1Q18 revenue rose 14.6% to RMB 728.1 million, from RMB 635.1 million a year ago.

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