China Fish - China Fishery Group rated 'outperform' by CIMB

Stock Name: China Fish
Company Name: CHINA FISHERY GROUP LIMITED
Research House: CIMB

CIMB in a Feb 7 research report says: "1Q11 net profit of US$19.7 million (+8% y-o-y) was below our expectation, at 14% of our FY2011 estimate and 15% of consensus. The variance came mainly from lower fishmeal sales and a US$4.7 million expense for the closure of a fishmeal plant, slightly offset by positive contributions from South Pacific and Mauritania operations.

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