China Minzhong's Q2 profit falls 60% to 29m yuan

Singapore

INTEGRATED vegetable processor China Minzhong Food Corporation's earnings fell by 60 per cent in the second quarter as it took a hit from foreign exchange losses and an impairment in receivables.

The group recorded a net profit of 29.1 million yuan (S$6.2 million) for the three months ended Dec 31, down from 72 million yuan a year ago.