Sino Agro Food posts narrow Q1 profit

Sino Agro Food posts narrow Q1 profit

Sino Agro Food, Inc. to announce financial results for its 1st quarter period ending March 31st, 2011 with net income of $1.3M.

Sino Agro Food, Inc. (otc pink sheets:SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, to announce financial results for its 1st Quarter period ending March 31st, 2011.

First Quarter Summary

Sino Agro Food, Inc. reports revenue from continuing operations of $3.1M with net income of $1.3M. Net income attributable to Sino Agro Food, Inc. and subsidiaries was $910,913. Net income from discontinued operations was $19.9M with $11.1M attributable to Sino Agro Food, Inc. and subsidiaries.

Basic earnings per share from continuing and discontinued operations attributable to Sino Agro Food, Inc. and subsidiaries common stockholders amount to $0.20 per share. Diluted earnings per share from continuing and discontinued operations attributable to Sino Agro Food, Inc. and subsidiaries common stockholders amount to $0.18 per share.

Basic earnings per share from continuing operations attributable to Sino Agro Food, Inc. and subsidiaries common stockholders amount to $0.02 per share. Diluted earnings per share from continuing operations, attributable to Sino Agro Food, Inc. and subsidiaries common stockholders, amount to $0.01 per share.

On February 15th, 2011 and March 29th, 2011, the company disposed 100% equity interest in HYT group (including HYT and ZX) for $45,000,000.

The Company acquired land use rights during the first quarter period for $7,042,831 which consisted of 57.58 acres in the Guangdong Province, PRC and the leases expire in 2037.

The Company also applied to form Enping City Bi Tao A Power Fishery Development Co. Limited (EBAPFD) and Enping City Bi Tao A Power Prawn Culture Development Co. Limited (EBAPCD), both of which the Company would own 25% equity interest. The approvals of the formation of EBAPFD and EBAPCD by the relevant authorities of the PRC Government are pending.

The entire report for the first quarter ending 2011 can be found at the following link:

http://www.sec.gov/Archives/edgar/data/1488419/000114420411031379/v222526_10q.htm

ABOUT SINO AGRO FOOD, INC.

Sino Agro Food, Inc. ("SIAF") (http://www.sinoagrofood.com) and (http://www.siafchina.com) is an integrated, diversified agricultural technology and organic food company focused on developing, producing and distributing agricultural products in the Peoples Republic of China. The Company intends to focus on meeting the increasing demand of China's rising middle class for gourmet and high-quality food items. Current lines of business include the manufacture and distribution of dairy products, beef products, fish products, bio-organic fertilizer, stockfeed and hylocereus undatus plantations.

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