Want Want China Profit Misses Analyst Estimates on Higher Costs
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Want Want China Holdings Ltd., the country’s largest maker of rice cakes and flavored milk, posted the slowest profit growth in four years, missing some analysts’ estimates, as raw material costs crimped its margins.
Net income rose 15 percent from a year earlier to $358.4 million Want Want said in a filing to the Hong Kong stock exchange today. That compares with the average $370 million of 16 analyst estimates compiled by Bloomberg. Sales rose 31 percent to $2.24 billion.