HONG KONG, March 5 Want Want China Holdings Ltd
, the country's top food and beverage maker and
distributor by market value, posted a 32 percent rise in 2012
net profit on Tuesday, largely as a result of soft raw material
Want Want, known in China for its rice crackers and snacks,
posted a record net profit of $553.8 million for the year ended
December, up from $419.5 million a year earlier and in line with
market expectations of $556 million according Thomson Reuters
Turnover grew 14 percent to $3.36 billion.
Want Want, which has market value of $18.70 billion,
competes with Tingyi (Cayman islands) Holding Corp,
China Mengniu Dairy Co Ltd, and Uni-President China
Holdings Ltd. Its rivals in China also include the
world's largest food company Nestle SA and French
foodmaker Danone SA.
(Reporting by Donny Kwok; Editing by Daniel Magnowski)