LONDON (Alliance News) - Cathay International Holdings Limited Tuesday said it is optimistic on China's growing healthcare sector.
The investment holding company, which invests in China's healthcare sector, said Haotian continued to work on improving corn fluid flow in the last quarter and is now starting to implement the improved process. This, coupled with the usual low levels of phytin that can be extracted from corn fluid during new corn harvest season, has affected phytin yield and supply.
Cathay therefore adjusted its target inositol production run rate to 1200 tonnes per annum by the end of this year, but said inositol production run rate should reach 1500 tonnes per annum in the first half of 2014.
Haotian makes up part of Cathay's healthcare business.
According to Cathay, inositol is a substance commonly used as an ingredient in dietary healthcare products such as energy drinks, infant and baby milk powder and vitamin supplements.
"Cathay remains focused on creating synergies across the Group and on expanding its product portfolio in key areas. We are pleased with inositol's recent progress and will continue to advance and develop this programme. We remain positive about the opportunities within the growing Chinese pharmaceutical and healthcare market and for the potential for inositol," Lee Jin-Yi, chief executive, said in a statement.
Cathay, which was reporting on the period from July 1 to November 19, said its hotel had seen higher than average growth in room occupancy at relatively stable room rates.
Cathay shares were Tuesday quoted at 34.25 pence, down 1.4%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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