Pfood 1Q08 results

Released on 12th Aug: quarterly profits up 160%, due to rising sales (up 20%) and lower COGS (up only 11%). A massive increase in gross margin (from 76m to 256m) has more than made up for other issues:

• higher selling costs (up from 35 to 52m)
  
• lower contributions from Pine Agritech (53m to 23m)
  
• Higher tax rate
  

Management comments: "The nationwide supply shortage of live pigs is expected to continue to ease".