China Nutrifruit Q4 Net Sales Increase

China Nutrifruit Group has earned fourth quarter net sales of $6.7m, or 17 cents a share, compared to a loss of $5.4m, or 16 cents a share, in the previous year.

During the quarter ended 31 March 2010, the food processor’s revenue rose to $26.4m, from $20.9m a year ago.

The gross profit margin in the quarter was 43.6%, up from 38.7% in the year-ago period.

China Nutrifruit is planning to start trial production by September at its new fruit and vegetable powder production facility in Daqing, with an annual capacity of 10,000t.

The company is currently upgrading all of its fruit concentrate production lines in its Daqing and Mu Dan Jiang facilities, which have total fruit concentrate production of 9,960t annually.

For 2011, the company expects about $90m-$95m in revenue and net income of about $22m-$23m.