(OTC:MSAH) Leading ginger producer in China poised to report strong quarterly results.
Leading ginger producer in China poised to report strong quarterly results.
Man Shing Agricultural Holdings Inc., a leading ginger producer in China, is poised to report strong quarterly results for their 10-Q filing in mid-November. The company, with operations based in Shandong province, exports high-quality ginger to high-margin markets in Europe, Japan and North America.“We are very pleased with our financial performance this quarter,” commented Eddie Cheung, CEO of Man Shing. “Our positioning for the upswing in ginger prices is excellent, producing a very positive impact on the bottom line and strong advancement of our larger strategy to win domestic and international market share.”
Man Shing’s 10-Q report is expected to be filed by mid-November. The company is well on track to achieve the targeted 50% year on year net profit growth projected for the next 3 years, with net margins of around 20%.
Limited Supply Global supplies for ginger are limited this year due to reduced planting and low yields in main production regions outside of Shandong. Man Shing, the largest leaseholder of ginger production land in Shandong, is well-positioned for significant market share and margin gains in this period of historically low supply and rising ginger prices. From 1997 to early 2009, the price of ginger dropped 80%, prompting many farmers to switch to more profitable crops. On significantly reduced supplies, the price of ginger is expected to climb to between 6Rmb and 8Rmb per kg (0.87 – 1.17USD). With stable production costs of around 1.6Rmb (0.23USD) per kg, well-supplied ginger producers stand to profit considerably over the next 18-24 months.
UPDATE: Man Shing 10-Q Filed 11/10/2009. View filing here:
About Man Shing Man Shing Agricultural Holdings, Inc. (OTCBB:MSAH) is headquartered in Hong Kong. Man Shing Inc is a high growth agricultural products company based in Shandong Province, China. The main product is ginger. Man Shing exports to high margin, high-quality markets where its products are sold in leading supermarkets and restaurants in Europe, Japan and North America. Man Shing expects to sustain gross profit margins of over 25% and net profit margins of around 20% on low production costs, efficient land management and a high-quality, high-margin strategy. Having acquired long-term rights to extensive tracts of farm land in Shandong, the Company is positioned to become the largest ginger producer in the country by the end of 2010. For more information visit the Man Shing website at www.msaginger.com
For inquiries, please contact:
Investor Relations
Josh Phillips
IR@msaginger.com
Phone: +852 8100 2859 (HK)
David Harris
media@msaginger.com
Phone: +852 8100 2859 (HK)
Man Shing has now filed the 10Q. Excellent results – check out the Edgar Filing
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=6883144&companyid=774332&ppu=%252fdefault.aspx%253fcik%253d1430060