August 31, 2010

China's Yili H1 net profit soar 35.58%

China's Yili Industrial Group, one of the country's leading dairy producers, said its first-half-year net profit rose 35.58% due to improved quality control and supply chain management.

Net profits rose to RMB344.72 million (US$50.7 million) in the first half of 2010, the company said in a statement.

Earnings per share stood at RMB0.43 (US$0.06), compared with RMB0.32 (US$0.047) one year earlier. Also, business revenues climbed 20.27% to RMB14.69 billion (US$2.06 billion) in the first half, it said.

Yili noted that its surge in profits resulted from strengthened quality control, improved product structure, better supply chain management and brand promotion, while facing price hikes in raw materials and fierce competition from international brands.