Pearl River - another good quarter

TSX Venture Exchange
Symbol "PRH"

LONDON, ON, Sept. 15, 2014 /CNW/ - Mr. George Lunick CEO of Pearl River Holdings Ltd. ("Pearl River") reports on its financial results for the 6 months ended June 30, 2014.

The company changed the reporting currency on the financial statements to the Chinese Renminbi ("RMB") in the year 2013.

"The reporting currency change better reflects the financial results of the company and minimizes the effect of currency fluctuation" says Chief Executive Officer George Lunick.

Revenue for the 6 months ended June 30, 2014 was $123,451,450 RMB up 10.2% from the comparative prior period with earnings before income tax and minority interest of $3,778,215 RMB an increase of 37.4% from $2,749,733 in the comparative prior period.

Gross profit for the year was 19.9% compared to 19 % in the prior 6 months.  Expenses for the year were 16.8% up from 16.6 % in the comparative prior period.

The following table provides highlights for the year with prior year comparisons.

Financial Highlights
Operational	6 Months	6 Months	6 Months
	ended	ended	ended
	June 30, 2014	June 30, 2014	June 30, 2013
	CDN	RMB	RMB
1.    Revenue	21,883,252	123,451,450	112,051,237
2.    Gross Profit	4,345,358	24,536,182	21,302,760
3.    Net Income before
Income Tax and
Minority Interest	669,122	3,778,215	2,749,733
Key Balance sheet items per share are as follows:
	CDN	RMB	RMB
4.    Cash and cash
equivalents per share	0.056	0.324	0.349
5.    Equity attributable
to common shareholders
per share	0.305	1.770	1.736

Mr. Lunick said "we look forward to another year building on the momentum of the prior year's production and sales effort changes".

About Pearl River

Pearl River Holding, through its subsidiary, the principal business is the manufacturing and distribution of plastic products in China, Australia and the United States of America.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Pearl River Holdings Limited

George Lunick, CEO, T: [phone], E: [email protected]