date:Mar 19, 2013
Zhongpin, a China-based meat and food processing company, has reported a 31% decrease in net income to $44.1m for the full-year 2012, compared to $64.2m in 2011, due to a lower gross profit margin, rising labor and utility costs, and higher interest expenses, among others.
The company posted 13% increase in net revenues to $1.6bn, compared to $1.4bn in the previous year, primarily due to higher sales volume for pork and pork products sold at lower average selling prices.
Zhongpin stated that t