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Higher cost chips China Star Food's earnings

The Edge Singapore
The Edge Singapore2/14/2020 07:10 PM GMT+08  • 2 min read
Higher cost chips China Star Food's earnings
SINGAPORE (Feb 14): China Star Food Group, which produces snacks, has reported revenue of RMB104.1 million for 3QFY2020, down 8.2% y-o-y.  However, earnings in the same period dropped by 95.1% y-o-y to RMB579,000, as the company incurred higher costs in
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SINGAPORE (Feb 14): China Star Food Group, which produces snacks, has reported revenue of RMB104.1 million for 3QFY2020, down 8.2% y-o-y. However, earnings in the same period dropped by 95.1% y-o-y to RMB579,000, as the company incurred higher costs in materials, administration, finance, marketing and distribution.

The company said higher expenditure on product development ate into its margins as well, as it tries to keep up with changing consumers’ and market preferences.

“We believe that constant product innovation to meet evolving snack food trends, complemented with targeted publicity campaigns to promote and drive sales for our proprietary brands of quality snack products through various distribution channels, will drive the Group forward in garnering market share in both existing and new markets,” says executive chairman and CEO Liang Chengwang.

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