April 26, 2012

Yili Industrial Group reports 183% net profit gain

Inner Mongolia Yili Industrial Group Co, a major Chinese dairy firm, has unveiled that its net income soared 183.35% on-year to RMB411 million (US$65.34 million) in the first quarter of 2012.

The company said in a statement that its operating profit more than tripled to RMB460 million (US$73.13 million) in the first three months from RMB145 million (US$23.05 million) in the same period of 2011. The dairy firm realised RMB10.26 billion (US$1.63 billion) in operating revenue in the quarter, reflecting an on-year growth of 13%.

Yili Industrial Group booked a net profit of RMB1.81 billion (US$0.29 billion) in 2011, 132.79% more than in 2010. The company's operating revenue jumped 26.25% on-year to RMB37.45 billion (US$5.95 billion) last year.