Tingyi (Cayman Islands) Holding Co (ADR) TCYMY reported a 17 percent decline in its net profit for its first quarter.
The Chinese company's quarterly net profit slipped to US$107 million, versus a year-ago profit of US$128 million.
Its revenue dropped 17 percent to US$2.32 billion.
The company's sales of instant noodles dropped 13 percent to US$1 billion in the quarter, while sales of beverages declined 19 percent to US$1.26 billion.
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