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Record revenues

This article was originally published in Foodnews

CHINESE meat and food processing company Zhongpin Inc has reported record revenues of US$55.8 million for the first quarter of 2007, up 83% compared to last year. This is the sixth consecutive quarter of increasing revenues. Gross profits increased 69.1% compared to the first quarter of 2006, to a record US$7.7 million. Dilute share prices were US$0.22, up from US$0.13 for the first quarter of 2006. CEO Xianfu Zhu attributed the growth to higher revenues from all product lines.

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