May 24, 2006

China Milk's profits up 26.3 percent
 

China Milk Products Group Ltd yesterday announced an increase in net profit of 26.3 percent to RMB 272.6 million (US$ 34 million) for its financial year ended Mar 31.

Sales grew by 23.5 percent to RMB 301 million (US$37.5 million) due to increased sales of bull semen on top of a successful breeding programme.

The company also announced plans to expand its herd and complete construction of a new dairy processing plant with annual production of 150,000 tonnes by the end of this year.

The company would seize the strong growth momentum of dairy products in China by moving to process raw milk, according to China Milk's CEO and Executive Director Liu Hailong, adding that the company would also develop its Yinluo brand of dairy products.

China Milk specialises in pedigree bull semen, cow embryos and raw milk.