Fertiliser maker CK Life Sciences International (Holdings) says acquisitions will continue to fuel growth after the strategy helped stimulate net profit to $8.32 million in the nine months to the end of September.
The strong profit rise, from $1.29 million a year earlier, came after a 260 per cent jump in sales revenue to $368.29 million in during the period and a 2 per cent rise in investment income to $117.22 million.
Sales revenue from agricultural products was about treble at $160 million in the three months to September 30 year on year and that of nutraceuticals such as immune system enhancement drinks soared 43-fold to $58 million from a smaller base, chairman Victor Li Tzar-kuoi said.
'In terms of long-term business development, the group's dual strategies of aggressively expanding its sales network and actively conducting acquisitions have generated good results,' Mr Li said.
He said CK Life was looking for acquisition opportunities in health product companies, which would help the group enlarge its international distribution network.
During the nine-months, the group boosted its portfolio by buying Canadian biotechnology firm Developpement Sante Naturelle; Envirogreen, the second-largest home garden product supplier in Australia and Nuturf Australia, a turf management product distributor.