Sino Agro Food Inc (OTCBB:SIAF) has reported financial results for the previous quarter ended 31 March, 2015. As per the reports, the revenues climbed to $115.5 million in the previous quarter, up 27% from the previous year’s figures.
Insights On Financial Results:
The 27% hike in the previous quarter’s revenues was the seventh time when Sino Agro Food posted positive results. Sino Agro reported $1.76 per share or $31.4 million stockholder’s equity. The shareholder’s equity was reached on the basis of the weighted average number of shares in the March quarter. The unrestricted cash and various cash equivalents for the previous quarter were $10.9 million while the working capital was $254.5 million.
Sino Agro had 18.199 million outstanding shares at the end of the March 2015 quarter compared to 18.069 million outstanding shares at the end of the March 2014 quarter. Revenue from the sales of goods increased 9% to $85.6 million during the three-month period ended March 31, 2015. Even though, Sino Agro Food witnessed a negative growth in Fishery, Organic Fertilizer, and Plantation sectors, but it was offset by a strong growth in cattle businesses.
The company suffered $10.5M reduction in the sale of eels due to seasonal factors, but the excessive revenue of $6.6M in prawns offset this effect. The variations during the March quarter created a net decline of 11% or $2.4 million in the gross revenues. However, an increase of $1.6 million in pawns offset a decline of $3.9 million in the sale of goods.
It put a significant focus on beef deboning in the March quarter, which eventually generated a revenue of $9.4 million. The consulting and services project development contributed a total revenue of $29.9 million. The management of Sino Agro Food Inc (OTCBB:SIAF) is happy to have posted these results and looks forward to increasing these numbers in the coming quarters.