Tingyi’s Profit Growth Is Strong, But Adverse Trends Are In The Wind

Tingyi (Cayman Islands) Holding Corp, owner of the Master Kong brand of snacks, noodles, and beverages, said its third-quarter profit rose 30 percent to $186.6 million on $2.97 billion in revenue from a restated $144 million in profit a year ago. A Chinese partner of Starbucks and PepsiCo, Tingyi warned of short-term margin pressure partly because of rising raw material costs. Other pressures affecting profit include China’s changing economic development mode, industrial upgrade, and fast-changing consumer demand.