March 11, 2014
China Modern Dairy's 2013 H2 net profit to soar 80%
China Modern Dairy Holdings Ltd., the largest raw-milk producer in China, expects net profit for the second half of 2013 to soar 80% on-year, primarily due to improved production volumes and unit prices.
Based on preliminary assessment of the consolidated management accounts, the Anhui-based company expects net profit to hit about RMB310 million (US$50.52 million).
The company attributed the profit increase to the expansion of the dairy cow herd and continuous improvement in the milk yield per cow, as well as an increase in sales and growth in both production volume and unit price of raw milk.
The company's revenue for the first half of 2013 is projected to reach RMB1.90 billion (US$309.63 million), a significant increase of 70% on-year.