Yamada Green Resources, the major supplier of self-cultivated fungi as well as a manufacturer of processed food products in Fujian province, says it recorded a net profit after tax of RMB4.2 million ($854,000) for the first quarter ended 30 September 2011 (1Q2012), up 96.6% from RMB2.1 million in the same period last year (1Q2011).
Despite the low season for fungi in 1Q2012, the group managed to double its profit year-on-year on the back of increased average selling price and decline in raw material costs of processed food products.
In 1Q2012, the group posted a 3.1% increase in revenue to RMB33.8 million from RMB32.7 million in 1Q2011. The demand for processed foods products, such as processed mushrooms, processed vegetables and konjac-based dietary fibre food products which are mainly convenience food products remained relatively constant in 1Q2012.
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