October 30, 2012
Bright Dairy reveals 44% increase for Q3 profits
Bright Dairy & Food Co., Ltd has released its financial report for Q3, which reveals net profit at CNY125 million (US$20 million), a 44.1% rise on year due to its deployment in the high-end market.
Net profit in the Q1-3 period amounted to a 38.53% rise from a year earlier. Operating revenue, in the meantime, leaped 14.25% from a year ago to CNY9.897 billion (US$2 billion).
The push of foreign-invested peers in China is posing a threat to local dairy product makers, pointed out market observers. Bright Dairy lags behind its bigger rivals like Inner Mongolia Yili Industrial Group Co., Ltd and China Mengniu Dairy Co., Ltd in market capitalisation and full-year operating revenue.