Global Sweeteners Holdings (HKG:3889) announced that its unaudited consolidated net profit after tax for the 11 months ended 30 November 2011 has increased substantially as compared to the corresponding period in 2010. Accordingly, it is expected that the audited consolidated net profit after tax for the year ended 31 December 2011 will also increase substantially as compared to the year ended 31 December 2010 (2010: HK$89.4 million).

Such increase is due to the increase in the revenue and gross profit margin of the group, mainly attributable to the group's effort in expanding sales and cost control. During the 11 months ended 30 November 2011, the average selling prices and sales volume of the group's upstream and downstream products have increased substantially, while unit production cost lowered with larger production volume.

The company expects to release its annual results by the end of March 2012.