Food and beverage manufacturer Master Kong recently published its results for the first half of 2019, stating that the company's operating revenue reached CNY30.495 billion, a year-on-year decrease of 1.62%; and its net profit was CNY1.503 billion, a year-on-year increase of 15.05%.
In regards to specific businesses, during the first half of 2019, Master Kong's instant noodle business realized revenue of CNY11.544 billion, a year-on-year increase of 6.38%, and it accounted for 37.85% of the total revenue of the group.
Master Kong said in the report that due to product price adjustment and price increase of some raw materials, its instant noodle gross margin saw a year-on-year decrease of 1.67% to 28.16%.
For beverage business, Master Kong's revenue in the first half of 2019 was CNY18.367 billion, a year-on-year decrease of 4.08%, and it accounted for 60.23% of the total revenue of the group; and the gross margin of beverage business was 34.24%, a year-on-year increase of 2.11%. The report showed that Master Kong's tea revenue was CNY8.137 billion; its water revenue was CNY1.689 billion; its juice revenue was CNY2.344 billion, and its carbonated drinks revenue was CNY6.197 billion.