March 24, 2010

 

Shanghai-based Bright Dairy back to profits in 2009

 
 

Bright Dairy & Food Co. Ltd reversed its fortunes and reported a net profit of US$17.87 million in 2009.

 

The dairy producer slipped into the red in 2008 due to a melamine contamination scandal. After that, the Shanghai-based company engaged in developing a series of new products. The company had rolled out 37 kinds of new dairy products which contributed more than 25% of its sales revenue, Bright Dairy said in the report.

 

Net profit was RMB122 million (US$17.87 million) last year with earning per share at RMB0.12 (US$0.02). It posted a net loss of RMB285.99 million in the 2008 period with earnings per share at minus RMB0.27 (US$0.04). Combined turnover stood at RMB7.94 billion (US$1.16 billion), up 8% from a year ago.

 

This year, Bright Dairy & Food targeted a net profit of RMB190 million (US$28 million), hoping the 2010 World Expo would help grow its brand influence.

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