May 5, 2014
 

Yili dairy group reports 84% growth in 2013

Yili Group, China's biggest manufacturer of dairy products, reported net profits of RMB3.2 billion (US$520 million) in 2013, up 84.4% from the previous year, according to its yearly report.

Yili took in RMB47.8 billion (US$7.6 billion) in sales revenue last year, according to the report.

Yili's main rival, Mengniu Group, had sales revenue of RMB43.4 billion (US$6.9 billion) in 2013 with net profits of RMB1.6 billion (US$256 million), according to its yearly report.

Yili's strong performance was boosted by its integration of global resources and an upgrade of products and research, said Chen Lianfang, a dairy industry analyst.

The company reported net profits of RMB1.09 billion (US$176 million) in the first quarter of this year, up 121.8% year-on-year.

Its baby milk powder plant in New Zealand, with an annual production capacity of 47,000 tonnes, is expected to begin operations in June, according to Zhang Jianqiu, executive president of Yili.

Yili inaugurated its research and development centre at Wageningen University this February in the Netherlands, the first Chinese dairy R&D centre in Europe.