February 23, 2012

China Modern Dairy's H2 2011 milk sales soar 60.9%

From July to December 2011, China Modern Dairy Holdings Ltd. has gained RMB736 million (US$116.72 million) income from the sales of milk, rising 60.9%.

Meanwhile, the net profit hiked 87.9% to RMB163 million (US$25.85 million); the earnings per share were CNY0.0333 (US$0.05).

Financing RMB2 billion (US$0.32 billion) during IPO, the company has sufficient capital currently, and does not have plans for further financing. Bank credit line of the company is RMB800 million (US$126.87 million). The company's debt ratio is lower than 30% at present, and the liability ratio is reckoned to be not more than 40% in the future.

China Modern Dairy has 16 pastures in operation and four livestock farms being built. It totally has 128,579 cows, each yielding 7.8 tonnes of milk annually.