CHINA'S Xiwang Sugar Holdings Co, Asia's largest maker of sugar derived from corn, said yesterday its 2006 profit rose 38 percent as prices of its products increased.　　

Net income last year climbed to 290.2 million yuan (US$37.5 million) from 209.8 million yuan in 2005. Sales rose 34 percent to 1.39 billion yuan. Sugar consumption in China is expected to increase an average three percent annually over the next 10 to 15 years.

Xiwang Sugar, which is based in Shandong Province, borrowed US$50 million from overseas banks to help start production of a new powdered sweetener, Sun Xinhu, head of the company's business development, said in an October 23 interview.

Xiwang Sugar's shares, which trade in Hong Kong, rose 0.5 percent to close at HK$3.73 on March 30.

Source:佚名