Dairy Firm Boosts Profit With More Growth In China

Chinese dairy company Yili announced its performance results for 2011, stating that the company realized total operating revenue of CNY37.451 billion during the reporting period, a year-on-year increase of 26.25%.

The company said that the revenue growth was mainly attributed to the changes of its sales, structure and average price of liquid milk, ice cream, milk powder and other dairy products.

Meanwhile, the company reported profit attributable to shareholders of CNY6.024 billion, a year-on-year increase of 42.49%. According to the plan, it will distribute CNY2.5 for each ten shares, including tax.

By sector, Yili's milk powder and dairy products gained revenue of over CNY5.6 billion, leading the market in spite of the competition from many international brands. Statistics reported in local media by the market research firm ACNielsen showed that Yili milk powder topped the Chinese milk powder market with a 21% market share. At the same time, the company's revenue from liquid milk was CNY25.933 billion in 2011.

By region, the company's operating revenue from the North China region was CNY10.457 billion, an increase of 21.72% compared with the previous year; while its operating revenue from the South China region was CNY9.545 billion, an increase of 26.23% compared with the previous year.

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