A profit function is established to evaluate the economic performance of baker's yeast continuous production. A structured kinetic model for baker's yeast Saccharomyces cerevisiae is applied to estimate the key state variables of the process, such as biomass and ethanol concentration. Taking possible time variant dynamics into account, a rolling identification approach is used to identify several key model parameters online so as to adapt the changing dynamics of the process. The well predicted biomass concentration makes the profit function online predictable very well. This investigation may benefit the study on profit optimization of the process. (c) 2007 Published by Elsevier B. V.