March 29, 2012

Chinese dairy producers post high 2011 profits

Last year, the major dairy producers in China have achieved huge profit increases, thanks to strengthened regulation last year by officials, amid a series of food security scandals that marred the sector's reputation during the year, Global Times reported.

China Mengniu Dairy Co, the country's largest dairy producer by market value, reported Tuesday (Mar 27) a 28.4% rise in its net profit for 2011. Also on Tuesday, Bright Dairy & Food Co announced that its 2011 profit increased by 22.4% to RMB238 million (US$37.71 million) compared with a year earlier.

Another Chinese dairy giant Inner Mongolia Yili Industrial Group Co said last month that its income topped RMB1.81 billion (US$0.29 billion) in 2011, an increase of 132.8% on-year, the newspaper said.