Welcome to Dairy Products China News 1405!
During April-May, listed dairy companies issued their financial reports for 2013, generally with positive figures. For example, leading dairy producers like Yili, Mengniu, Bright Dairy and Beingmate achieved YoY net profit growth of 85.6%, 25.2%, 41.7% and 41.5% respectively. Royal Dairy, a significant regional player, also realized 10.8% YoY growth. Unfortunately, Beijing Sanyuan made a huge net loss of USD36.8 million (RMB226.54 million), mainly due to the mediocre performance of its products and losses at its acquired businesses.
According to the National Bureau of Statistics, there were 658 dairy companies operating in 2013, 9 more than in 2012; 91 of these made losses, 23 fewer than in 2012. For 2013 overall, total sales revenue by dairy companies amounted to USD46 billion (RMB283.2 billion), up by 14.2% over 2012; total profit reached USD2.9 billion (RMB18 billion), up by 12.7% YoY. The growth mainly reflects increased output of dairy products. Dairy industry output totaled 26.98 million tonnes, increasing by 5.2% over the previous year. Despite higher dairy prices due to increased raw milk and commodity prices, most dairy companies can still make substantial profits thanks to strong demand from domestic consumers.
RMB Exchange Rate: USD1=RMB6.1580; source: The People's Bank of China.
Please purchase to view
Buy Now
Add to cart
