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Hong Kong Bio-Dynamic widens net loss in 2011

(SeeNews) - Mar 16, 2012 - Hong Kong-based ethanol, alcohol and animal feed producer Bio-Dynamic Group Ltd (HKG:0039) today said its 2011 net loss had expanded to HKD 125.5 million (USD 16m/EUR 12.4m) from HKD 105 million in 2010.

Pre-tax loss was HKD 151.3 million, compared with HKD 113.2 million.

Gross profit for the year hit HKD 23.9 million, 88.5% more than a year earlier. Still, the ethanol segment posted a gross loss of HKD 13.2 million due to higher corn prices.

Gross profit margin improved to 6.2% from 2.9% as the company grew its wine and liquor operations.

Consolidated revenue declined by 12.4% year-on-year to HKD 384.9 million.

Bio-Dynamic's ethanol segment brought revenues of HKD 226.5 million, 29.6% less than a year earlier. The drop was due to suspensions in ethanol production. In 2011, the company sold 26,778 tonnes of ethanol products, a fall of 40.8% in annual terms. The average ethanol product selling price grew 16.2%.

(HKD 1.0 = USD 0.129/EUR 0.099)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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