There was no income tax payable in 4Q17 as the group incurred a loss in the final quarter due to the closure of two of the group’s factories since the end of Jan 2017. The factory closures were due to the local government general directive to tighten pollution control requirements.
SINGAPORE (May 30): Sweet potato snack manufacturer China Star Food Group posted a 32.3% increase in net profit to RMB 21.6 million ($4.4 million) for the full year ended March, from RMB 16.3 million a year ago.
This was mainly due to a 65.2% drop in income tax expense to RMB 10.4 million, compared with income tax expense of RMB 29.9 million a year ago.
