Projects will provide micro-grid solutions in rural parts of Sarawak state over the coming years
WUXI, China, July 31, 2014 /PRNewswire/ — Wuxi Suntech, one of the world’s largest manufacturers of PV m…
Category: General
BEIJING, July 31, 2014 /PRNewswire/ — TAL Education Group (NYSE: XRS) (“TAL” or the “Company”), a leading K-12 after-school tutoring services provider in China, today announced that it will hold its annual general meeting of shareholders at…
SHENZHEN, China, July 31, 2014 /PRNewswire/ — Noah Education Holdings Ltd. (“Noah” or the “Company”) (NYSE: NED), a leading provider of education services in China, today announced the completion of the merger contemplated by the previously…
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BEIJING, July 12, 2014 /PRNewswire/ — Rabobank, the Dutch multinational banking and financial services company, issued the latest 2014 Global Dairy Top 20 Report on July 9, 2014, in which China-based Inner Mongolia Yili Industrial Group Co., Ltd. (Yil…
ABBOTT PARK, Ill. and AUCKLAND, New Zealand, July 11, 2014 /PRNewswire/ — Abbott (NYSE: ABT) and Fonterra Co-operative Group Ltd today announced the signing of an agreement to develop a proposed dairy farm hub in China. The strategic alliance, which is subject to Chinese regulatory approval, will leverage Fonterra’s expertise in dairy nutrition and farming in China and Abbott’s continued commitment to business development in China.
Dairy consumption in China has been rising steadily over the past 10 years. The continued development of safe, high-quality milk sources is essential to meeting this growing demand from Chinese consumers. Abbott and Fonterra are pleased to be able to work together and, through this alliance, make a positive contribution to the growth and development of China’s dairy industry.
“This would be Fonterra’s third farm hub in China and will complement our existing farming operations in Shanxi and Hebei Provinces that have been very successful,” said Theo Spierings, chief executive, Fonterra. “Farming hubs are a key part of our strategy to be a more integrated dairy business in Greater China, contribute to the growth and development of the local Chinese dairy industry, and help meet local consumers’ needs for safe, nutritious dairy products.”
“We’re pleased to partner with Fonterra, a global leader in dairy science, on this alliance to build dairy capacity in China,” said Miles D. White, chairman and chief executive officer, Abbott. “This is a very important step in our growing commitment to Chinese consumers.”
Both companies will work with Chinese regulators to obtain necessary approvals through the course of the project’s development.
If approved, Abbott and Fonterra will form a joint venture to invest a combined US$300 million (NZ$342 million or 1.8 billion RMB) into the farm hub, which will contain up to five dairy farms and more than 16,000 dairy milking cattle in production, producing up to 160 million liters of milk annually. The herd for this hub will comprise animals either imported, or sourced from Fonterra’s existing farm hubs. All dairy cattle will have genetics traceable to New Zealand, Australia, the United States and Europe.
As the world’s largest global milk processor and dairy exporter, Fonterra brings industry-leading dairy standards and practices to farm operations. The Fonterra-Abbott joint venture will operate the farm hub in China to these same standards to produce high-quality dairy.
Pending regulatory approval, the first farm is expected to be completed and producing milk in the first half of 2017 and the remaining farms will commence production in 2018.
Abbott and Fonterra have a long history in China and have made substantial commercial and social investments in the country.
About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.
The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our more than 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.
About Abbott
Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 69,000 people.
In China, Abbott has more than 4,000 employees working in manufacturing, research and development, logistics, sales and marketing. Primary locations in China are in Shanghai, Beijing and Jiaxing.
Visit Abbott at www.abbott.com and www.abbott.com.cn, and connect with us on Twitter at @AbbottNews.
SYDNEY, July 2, 2014 /PRNewswire/ — When Jim Storey started Diva Coffee, he believed that through business he could make the world a better place.
“When you run your own business you get to make your own choices,” said Jim, owner of Diva Coffee. “So I decided to make positive choices for our planet and the communities supported by the coffee industry.“
And so Diva ECO Coffee was born – coffee that’s Ethical, Community focused and Organic. It’s also 100% carbon offset.
“We’ve chosen the best of the best in terms of Ethical products,” Jim said. “The coffee is Fair Trade certified which ensures that farmers get paid a reasonable amount for their work. By choosing Organic we’re ensuring the sustainability of the coffee farms and communities that the beans are from, and 100% carbon offsets are helping keep the planet safe for our children.”
A study in 2012 published in the Journal of Agricultural Science and Technology regarding the carbon footprint of coffee found that for every kilo of coffee harvested, approximately 5kg of carbon was released in its journey across the supply chain. So from the tree to your waste bin 5kg of carbon is released as the coffee is harvested, transported, roasted, packaged, ground and consumed. The packaging in capsules is even higher with a greater carbon footprint.
“The most exciting part of launching this product is choosing where to buy the carbon credits,” said Jim. “It’s like Christmas having money to spend helping others, especially choosing projects like the Kenya Lifestraw Project.“
Traditionally water is purified in Kenya by boiling it – and the fuel for heating the water is the local forest. The Kenya Lifestraw Carbon Offset Program reduces deforestation by providing a healthy alternative using clean drinking water filters. Not only is this reducing carbon, providing clean drinking water is also saving lives.
“As soon as I saw the Kenya LifeStraw program I fell in love with it,” said Jim. “As a parent I can only imagine the anguish of having to give your children potentially harmful drinking water. The LifeStraw project ticked all the environmental and ethical boxes for me.”
To read more about this project, or Diva Coffee, head over to divacoffee.com.au.
Contact:
Jim Storey, CEO
15/20 Narabang Way
Belrose NSW 2085
Phone: +612-9986-3053
Email: sales@divacoffee.com.au
HONG KONG, June 30, 2014 /PRNewswire/ —
|
Year ended 31st March |
|||
|
2014 HK$ Mn
|
2013 HK$ Mn (restated) |
Change % |
|
|
Turnover |
4,494 |
4,051 |
11 |
|
Gross profit |
2,175 |
1,925 |
13 |
|
EBITDA |
653 |
618 |
6 |
|
Profit before taxation |
457 |
423 |
8 |
|
Profit after taxation |
341 |
334 |
2 |
|
Profit attributable to equity |
307 |
301 |
2 |
|
Basic earnings per ordinary share |
29.8 |
29.4 |
1 |
|
Interim dividend per share |
3.2 |
3.2 |
0 |
|
Final dividend per share (HK cents) |
17.0 |
16.6 |
2 |
|
Dividend per share (HK cents) |
20.2 |
19.8 |
2 |
Vitasoy International Holdings Limited (“VIHL” or “the Group”) (SEHK Code: 0345), a Hong Kong-based manufacturer, marketer and distributor of non-carbonated beverages and food, today announced its audited annual results for the year ended 31stMarch 2014.
During the year, VIHL recorded a consistent strong growth of 11% in net sales to HK$4,494 million and achieved acceleration across core categories and markets. The gross margin increased 13% to HK$2,175 million, while profit attributable to equity shareholders improved by 2% to HK$307 million. The Group maintained its gross profit margin at last year’s level of 48% attributed by the use of tactful pricing strategy and improved manufacturing efficiency.
“We forged ahead our business with strong execution focusing on core brands and key products despite a slower macroeconomic growth and rising commodity and labour costs. During the year, we focused our investment and innovation in our core categories of Soy/Plant Milk, Tofu and Tea and introduced more nutritional products to appeal to consumer needs. In terms of geographical development, our Mainland China business has accelerated gradually, while Hong Kong and Australia continued to sustain their performance and local leadership position. The North American have successfully restored profitability and Singapore operations maintained the business growth,” said Mr. Winston Yau-lai Lo, Executive Chairman of VIHL.
Basic earnings per ordinary share were HK$29.8 cents for the period. The Board of Directors of VIHL proposed the payment of a final dividend of HK$17.0 cents per ordinary share (FY2012/13: HK$16.6 cents per ordinary share) for the year ended 31stMarch 2014. Together with the interim dividend of HK$3.2 cents per ordinary share, the total dividend per ordinary share amounted to HK$20.2 cents (FY2012/13: HK$19.8 cents per ordinary share).
Business Review
Hong Kong — Consistent growth driven by focusing on core categories and in-store execution
The Hong Kong operation reported a 6% sales growth to HK$1,899 million. The Group’s efforts in growing its soy milk and ready-to-drink tea categories have resulted in a stronger market leadership position. VITASOY CALCI-PLUS have reported the strongest sales growth within soy category, whilst SANSUI achieving the leadership position in the fresh soy drink segment. In the last financial year, Vitasoy Hong Kong’s operating profit grew by 9% to HK$348 million.
In terms of new product and packaging, the Hong Kong operation has recently launched a new PET packaging for VITASOY soymilk and an innovative VITA Hong Kong Style Milk Tea to expand the Tea offerings.
The operating profit of Vitaland Group, a subsidiary of VIHL in school tuck shop business, has grown profitably, primarily driven by its dedicated efforts in driving new school accounts and school renewals, improved product mix and better planning labour and raw materials.
Mr. Roberto Guidetti, VIHL Group Chief Executive Officer, said, “We will keep strengthening our leadership position of our core brands across channels and packaging formats. Packaging innovation, brand execution and distribution expansion are crucial to further drive the growth of our core categories.”
Mainland China — Acceleration via innovation, execution and expansion
The Mainland China business maintained its strong growth momentum in the midst of a challenging operating environment and reported a 28% increase in net sales revenue to HK$1,505 million and 19% growth in operating profit to HK$145 million respectively. The “Go Deep, Go Wide” strategy has driven the Group’s growth in business and making inroads into new territories, such as Jiangsu, Anhui, Hebei, Wuhan and Fujian.
During the year, Vitasoy China focused on unifying the VITASOY regional programs into a national one and rolled out a new communication campaign emphasising the product’s unique functional benefits. In addition, a brand restage program which used new packaging graphics harmonizing with Hong Kong’s VITASOY brand equities has increased the brand awareness in Mainland China.
On the product front, the operation’s renewed execution and expansion of VITA Lemon Tea has resulted in the strong growth beyond the previous Guangdong borders and successfully adding a new revenue stream for VIHL.
“We will continue to accelerate business growth using our proven business model in Mainland China and focus on delivering a sustainable performance. We will also strengthen our execution, expansion and innovation in order to drive growth and build brand visibility, and raise the operational capabilities of our production bases,” said Mr. Guidetti.
Australia and New Zealand — Solid growth behind VITASOY restage, offset by weakened Australia dollar
Vitasoy Australia reported a 7% increase in sales revenue and 9% increase in operating profit in Australian dollar respectively. However, as impacted by currency depreciation, the operation recorded a decrease of 5% to HK$492 million in revenue and a drop of 1% to HK$87 million in operating profit.
During the year under review, the operation restaged its core Organic VITASOY range by leveraging the Australian grown whole bean proposition. Launch of new product packaging and an integrated TV campaign has helped the brand securing its number 1 position in the Soymilk market. In addition, the VITASOY Oatmilk range has also been leading the market share in the category. Vitasoy has introduced a new “Organic” variant of CAFE for BARISTAS in the premium cafe market.
“Looking ahead, we will continue to bring innovative products, focus on the execution in grocery channels and drive the growth in coffee channels,” Mr. Guidetti added.
North America — Sustaining top line growth whilst restoring profitability
Vitasoy USA recorded a 6% increase in net sales revenue to HK$513 million and reported an operating profit of HK$7 million, mainly attributed by the volume growth and improved manufacturing and logistic efficiency.
During the year, the operation restaged NASOYA Tofu and launched a new packaging design. Vitasoy USA has secured a strong year of solid sales growth across all business channels and expanded the leading market position in both the US Tofu and Asian Pasta categories.
Mr. Guidetti said, “With our improved business base, we will continue to improve profitability of our North American business. We will increase our efforts in launching new value-added products in both Asian and mainstream markets and consumer communication campaigns. We will also continue our focus on further optimizing the manufacturing efficiency and reducing operating costs.”
Singapore — Maintaining leadership, strengthening operations and increasing profitability
Unicurd, the Group’s wholly-owned subsidiary in Singapore, reported a 2% growth in net sales revenue to HK$85 million and 14% increase in operating profit to HK$8 million, attributed by a profitable product and channel mix as well as higher manufacturing efficiency. Unicurd will continue scaling up, adding important innovations and expanding the VITASOY franchise to drive business acceleration.
Outlook
Mr. Winston Lo, Executive Chairman of VIHL, concluded, “Our growth in FY2013/2014 has given us a strong and solid base for future development. We are confident that our growth will continue to benefit from the tailwinds of healthy trend and the demand for nutritious foods, despite a mixed global macroeconomic outlook. In the coming year, we will focus on our cores, which comprise our commitment to product quality, brand equity, our expanded infrastructure, and the readiness and competence of our people, through execution, expansion and innovation, to secure a long term success.”