China-Biotics continues probiotics growth
This article was originally published in The Tan Sheet
Executive Summary
New retail products sold in the firm's Shining outlets helped drive net sales up 35.5 percent to $15.4 million in the first quarter of fiscal 2010. Shanghai-based China-Biotics reported Aug. 17 that net income for the April-June also rose significantly, to $5.8 million from $3.2 million. Quarterly earnings per share grew to 34 cents from 19 cents, the firm said. Looking ahead, the probiotics manufacturer intends to slow retail expansion as it readies a new facility to begin trial production of bulk additives in its second quarter (1"The Tan Sheet" July 20, 2009). China-Biotics added it applied in July for patents for four probiotics-based yogurt products with China's State Intellectual Property Office and anticipates receiving patent certificates in about two years