March 17, 2014
Ringpu's net profit for 2013 rises by 5.5%
For the financial year 2013, Tianjin Ringpu Bio-Technology Co., Ltd. (Ringpu) realised operating income of RMB755 million (US$122.93 million), a rise of 15% on-year; while net profit topped RMB152 million (US$24.75 million), an increase of 5.5% on-year.
Ringpu says that its commercial vaccinebusiness continued to grow in 2013, with revenue reaching RMB295 million (US$48.02 million), a surge of 23% on-year.
The company retained its position as the leading manufacturer of poultryvaccines, taking up 20% of market share in China.
However, the company's overall performance for 2013 was also affected by the weak livestock market and the increase in expenses, especially the costs for the establishment of two sales branches in the southwestern and central southern regions. Ringpu says that costs for sales operation increased by 39% on-year in 2013.