SkyPeople Fruit Juice revenue down in Q1

SkyPeople Fruit Juice, a producer of fruit juice concentrates, fruit beverages and other fruit-related products, has reported total revenue of $15m for the first quarter ended 31 March 2012, a 23% decrease, compared to $19.4m in the same period in 2011.

The decrease in total revenue was primarily due to decrease in the sales of concentrated apple juice and apple aroma, fruit juice beverages, fresh fruits and vegetables, and partially due to increase in the sales of concentrated kiwifruit juice and kiwifruit puree and concentrated pear juice.

Gross profit was $4.8m for the quarter ended 31 March 2012, compared to $8.6m in the first quarter in 2011.

Gross profit margin decreased from 44% in 2011 to 32% in first quarter of 2012.

The company registered $2.1m income from operations in the first quarter 2012, a 63% decrease, compared to $7.2m in the first quarter of 2011.

SkyPeople Fruit Juice CEO Yongke Xue said they continue to be challenged by unpredictable market conditions and rising raw material costs due to the volatile pricing of fresh fruits.

"Our top priority continues to be generating solid returns on our investment so as to create long-term value for our shareholders," Xue said.

Image: SkyPeople Fruit Juice produces fruit juice concentrates, fruit beverages and other fruit-related products. Photo: SkyPeople Fruit Juice