Synutra Report Q4 Increase in Profits

Synutra International has posted a fourth quarter net income of $9.1m, or 17 cents a share, compared to a loss of $17.2m, or 32 cents a share, last year.

The China-based baby formula maker said its Q4 revenue rose 13% to $82.4m, from $72.7m last year.

For the three months ending 31 March, the company’s branded powdered formula segment earned $69.8m, or 85% of net sales.

The company said its gross profit increased 69.1% to $38.9m from $23m in the same period last year.

For the full year the company has posted a loss of $24.6m, or 46 cents a share, narrowing from a loss of $100.5m, or $1.86 a share, last year.