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Coca-Cola

Huiyuan profit slumps 86pc to 88.9m yuan

PUBLISHED : Wednesday, 15 April, 2009, 12:00am
UPDATED : Wednesday, 15 April, 2009, 12:00am

China Huiyuan Juice Group reported net profit fell 86.11 per cent to 88.94 million yuan (HK$100.89 million) last year from 2007. The result was hurt by a drop in the fair value of the conversion rights of the firm's convertible bonds amid a slump in the stock. After Beijing blocked Coca-Cola's HK$19.65 billion takeover of Huiyuan, the juice producer said it engaged an international company to revalue the conversion rights of the bonds, which showed an unrealised gain of 348.8 million yuan from the fair value change for the three months to March.

 

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