Yahoo Finance's Julia La Roche sits down with executive chairman and former CEO of Starbucks Howard Schultz
|Bid||12.020 x 0|
|Ask||12.040 x 0|
|Day's Range||11.900 - 12.080|
|52 Week Range||8.340 - 12.240|
|PE Ratio (TTM)||33.99|
|Dividend & Yield||0.02 (1.20%)|
|1y Target Est||N/A|
Chinese food and beverage maker Tingyi (Cayman Islands) Holding Corp on Monday posted a more than three-fold jump in quarterly net profit thanks to solid noodle sales and as its beverage business benefited from warm weather. Tingyi, owner of the Master Kong brand, said profit rose 246 percent to 266.70 million yuan ($39.98 million) in the three months through June, slightly above the $38 million forecast by Reuters SmartEstimate. Revenue increased 4.7 percent to 14.37 billion yuan during the quarter.
Demand for premium brands in China is creating some of the world's biggest packaged food companies
Chinese instant noodle maker Tingyi (Cayman Islands) Holding Corp reported its best quarterly performance in nearly three years on Monday helped by healthy sales of its mainstay products. Tingyi, the Chinese partner of Starbucks Corp for ready-to-drink coffee and PepsiCo Inc for fruit juice, said attributable profit for the three months to the end of March rose 15.3 percent to 433.5 million yuan ($63 million) from 375.9 million yuan a year earlier. The last time the company registered a year-on-year increase in quarterly profit was for the three months to the end of June 2014, according to Eikon data based on company figures.