HONG KONG Jan 21 China Agri-Industries Holdings
Ltd (0606.HK) said on Friday it expected its profit attributable
to owners of the company to fall by about 13 percent in 2010 due
to a decline in profits derived from its oilseeds and rice
In a filing with the Hong Kong bourse, the company said it
incurred a loss for its futures contracts in its oilseeds
business due to "extreme price fluctuations" of agricultural
commodities in the second half of 2010.
It said considerable investments in marketing its packaged
products, a surge in raw material prices, and a thinner profit
margin have led to a decrease in profitability of the rice
business during the period.
(Reporting by Donny Kwok; Editing by Jacqueline Wong)