Chaoda Modern expects 30-40% profit growth

Kwok Ho, Chairman and Managing Director of Chaoda Modern Agriculture (Holdings) Limited (0682), said that as production cost in the PRC is lower than that in Europe and the US, he believed that the company will remain competitive after the PRC's entry into the WTO. The company intends to increase the area of the production base by 30-40% and the profit is expected to increase proportionately. He said that the company will not be under pressure of capital according its current scale of development. The company may carry out certain acquisitions, for which the company will consider whether to raise capital before the acquisitions.

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