Net profit for the third quarter ended September was US$61 million, up from US$53 million from the same period last year. Sales climbed 17.2 per cent to US$702 million.

Sales of beverages, which include the ready-to-drink tea brand Master Kong, increased by 42.7 per cent in the third quarter to US$366.6 million. For the first nine months of the year, sales have now climbed by 55.8 per cent year-on-year and operating profits have grown by 38.5 per cent.

The company said at the beginning of the year that it would shift its focus to beverages to tap strong growth in demand for soft drinks in China. The firm is predicting that China's beverage market will continue its 20 per cent or higher growth rate in the next few yearsIt has therefore added several new production lines in recent months and earlier announced plans to launch seven new products this year.

Meanwhile noodle sales, previously the firm's core product, were down by 4.7 per cent in the third quarter. The Tianjin-based company could not be contacted by AP-Foodtechnology.com to explain the drop in sales.