China Fruits Corporation has released its unaudited second quarter results, posting a 562 per cent increase in revenue in the first six months of 2014 compared to the same period last year.
Sales in the second quarter of 2014 rose to $2.5m compared to $843,533 in the same period last year, while sales in the first half rose to $10.5m.
China Fruits has also announced its plans to invest $160,000 in developing its e-commerce business and expects to increase its retail stores to 64 by the end of 2014.
“We are very delighted to see that the company is continuously achieving growth in 2014,” said China Fruit’s chief executive Quanlong Chen in a company statement. “The profit margin is improving as we are managing to control costs and expense efficiency and we are excited about the future of our fruit e-commerce business, because we believe that our retail stores can give us a competitive edge with our unique O2O business model.'
China Fruits operates 19 franchises across the country, and established its latest subsidiary, US-China Fruits Company, in June this year to develop its business overseas.
No comments yet