China Green Agriculture
China Green Agriculture manufactures, markets and sells fertilizer products to private wholesalers and retailers of agricultural farm products in 27 provinces in China.
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China Green Agriculture Q4 net income grows 239pct
China Green Agriculture posted a 239 percent rise in fourth quarter net income and a 45 percent jump in sales. For the fiscal year 2009, sales increased 56 percent and net income was up 86 percent to US$14.5m.
The 45 percent jump in sales for the fourth quarter was mainly driven by Techteam's sales of humic acid based liquid compound fertilizers, which contributed to 90 percent of total net sales. The increase was primarily due to strong sales from Techteam's green fertilizer products and increase in production capacity.
While sales revenue jumped 45 percent, sales volume increased just 15 percent to 4,243 tons in the fourth quarter of fiscal year 2009, versus 3,685 tons in the same period of 2008.
This was largely due to an increase in sales of namely top-grade fruits, vegetables, flowers and colored seedlings increased 13p percent on 2008 and accounted for 9.8 percent of total net sales.
Gross profit for the fourth quarter of fiscal year 2009 totaled $6.4 million, an increase of 68 percent from US$3.8m in the same quarter of 2008. Gross profit margin was 61 percent for the fourth quarter of fiscal year 2009, up from 53 percent in the fourth quarter of fiscal year 2008.
Operating expenses for the fourth quarter of fiscal year 2009 were US$1.2m, down from US$1.4m in the same quarter of fiscal year 2008, mainly due to a reduction in professional service fees compared to the year ago period.
"We are pleased with our financial results which exceeded both our revenue and EPS guidance for the fiscal year 2009," said Mr. Tao Li, Chairman, President and Chief Executive Officer of China Green Agriculture.
China Green Agriculture is presenting today's Susquehanna Management Summit in Beijing.
Other China Green Agriculture news
- China Green Agriculture expects salues volume to increase 40pct a year
2009-10-21 - China Green Agriculture to present at Susquehanna Beijing Management Summit tomorrow
2009-09-15 - China Green Agriculture opens new 40,000-ton production line
2009-09-01 - China Green Agriculture to raise US$25m via shelf offering
2009-07-22
