May 17, 2007

China's American Dairy Q1 profit up 24 percent 

Beijing-based American Dairy Inc announced a 24-percent rise in first quarter net to US$5.9 million on strong sales of milk powder and soybean products in China.

Revenue rose 39 percent on-year to US$36.0 million, while earnings per share in the first quarter totaled US$ 0.33 up from US$ 0.29 the year earlier.

The company's good performance was attributed to the US$4.7 million it spent on branding and advertising during the quarter.

The company's Feihe premium infant formula products continues to see strong demand, CEO Leng You Bin said.