China's Huiyuan Juice Sales Up 68.4% In H1 2010

Chinese juice drinks maker Huiyuan has published its semi-annual results for the first half of 2010, stating that due to the implementation of special distribution network and sales channel managements, the company realized sales of CNY1.481 billion, a year-on-year increase of 68.4%.

At the same time, the company's gross profit increased by 146.8% to CNY545 million and its gross margin increased from 25.1% in the same period of 2009 to 36.8%. By June 30, 2010, Huiyuan's total annual output was 3.77 million tons.

By products, the sales of its 100% pure juices were CNY280 million, a year-on-year increase of 56.42%; the sales of its medium concentration fruit and vegetable juices were CNY533 million, a year-on-year increase of 46.03%; the sales of its nectars were CNY491 million, a year-on-year increase of 83.2%; and the sales of its pure water and other drinks were CNY177 million, a year-on-year increase of 161.06%.

Huiyuan said that according to statistics offered by Nielsen, the company sold 195 million liters of fruit and vegetable juices, increasing by 9.5 year-on-year. By sales, Huiyuan's market share in the Chinese pure juice and medium concentration fruit and vegetable juice markets were 56.4% and 46.4%, respectively.

However, Huiyuan said that due to the decrease of financing in the first half of 2010, the company still reported losses of CNY72.247 million and its loss per share was CNY0.049.