DHARMALA Holdings has made a profit of US$20 million since the beginning of the year, equivalent to 90 per cent of last year's total revenues, according to company managing director Bernard Pouliot.
''Despite a soft market, we have been able to diversify operations and we are in quite good standing,'' Mr Pouliot said yesterday.
The company plans to build on its success in China by pumping HK$300 million to $400 million over the next three to five years into its mainland food operations.
About 70 per cent of the company's industrial product sales in Hong Kong, which had a turnover of $450 million last year, went to China, Mr Pouliot said.
The company is looking at expanding into five mainland cities within the next five years with the ultimate goal of penetrating every major city in China.
Depending on population concentration and raw material costs, the company is looking at setting up processing plants and distribution networks in Tianjin, Beijing, Nanjing and Fuzhou.