Yamada Green

Yamada Green: 1QFY14 net profit dropped 36% to Rmb645k despite revenue growth of 21.5% to Rmb40.1m, mainly due to the contraction of gross margin by 0.7 ppts to 28.7% on higher raw material and labour costs. The main driver of the strong top line was from export revenue, which surged 35% to Rmb27.7m mainly attributed to the higher demand for processed foods products such as dried mushrooms and water-boiled bamboo shoots in Japan. Group expects better performance from the seasonally stronger 2QFY14 quarter, as well as higher sales of Moso bamboo shoots and winter bamboo shoots from its newly acquired Moso bamboo plantations.