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Fufeng eyes profit jump as China restricts corn users

Mon Apr 21, 2008 9:07pm EDT

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HONG KONG, April 22 (Reuters) - Chinese corn processor Fufeng Group Ltd (0546.HK) sees a strong rebound in its 2008 net profit as Beijing closes down small glutamic acid producers.

Henley Gong, chief financial officer, told Reuters late on Monday Fufeng expected its 2008 earnings to recover to 60-70 percent of 240 million yuan earned two years ago after an 81 percent slump in 2007 net profit.

(Reporting by Nao Nakanishi; Editing by Anne Marie Roantree)



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