China Green Star Reports 17.7% Increase in Revenues and 25% Increase in Earnings per Share for the First Quarter of 2013
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/28/13 -- China Green Star Agricultural Corporation (TSX VENTURE: GRE) ("Green Star" or the "Corporation") today announced its financial results for the three month period ending March 31, 2013.
2012 Key Financial Metrics
"Despite challenging economic conditions in both the domestic Chinese market, and internationally, the Corporation managed to substantially grow both its top line revenues and net profit," said Mr. Guan Lianyun, Chairman and CEO of Green Star. "One of the main drivers of Green Star's improved operating results for the three months ended March 31, 2013 was the increased production of bamboo shoots from the Corporation's new bamboo mountain leases. With the additional land leases taking effect the beginning of 2013, Green Star's land base has increased by more than 60% to approximately 1,500 acres. We believe that the Corporation is well positioned to continue on this established path of growing revenues and profits, and enhancing shareholder value."
Q1 2013 Financial Highlights
Green Star invites readers to review Management's Discussion & Analysis, as filed on SEDAR, for a more complete review and analysis of the Corporation's financial information and performance.
About China Green Star Agricultural Corporation
Green Star operates two main divisions, agricultural and food processing. The agricultural division is involved in the cultivation and harvesting of agricultural products such as fresh fruit and vegetables, for sale either directly as fresh fruit and vegetables or canned, and sold overseas and domestically. The food processing division is primarily involved in the processing of canned food, which includes canned tomato paste, canned boiled bamboo shoots, canned oranges, canned peaches and various other types of fruits and vegetables.
Green Star has been operating for over 19 years. Through the application of science and technology in production, quality control and assurance, and business operations and management, Green Star has focused on maintaining product and reputational excellence with a high standard of food quality. Key assets include a well established management team, modern production facilities, and a close partnership with local farmers.
China Green Star Agricultural Corp. is listed on the TSX Venture Exchange under the symbol "GRE".
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.
When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes management's belief that the Corporation will continue to grow its revenues and profits and enhance shareholder value. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Company's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive. Please see the Company's annual MD&A dated April 25, 2013, available on , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law. "
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
China Green Star Agricultural Corporation
Robert Macdonald
(416) 849 3858
Investor Cubed Inc.
(647) 258-3311, (888) 258-3323
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Datum: 28.05.2013 - 05:30 Uhr
Sprache: Deutsch
News-ID 1231025
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