CHINA: Mengniu upbeat on growth prospects as earnings rise
Mengniu upbeat as earnings climb
Chinese dairy major China Mengniu Dairy Co. said today (26 March) expects to capitalise on the growth opportunities presented by the consolidation of an expanding domestic sector.
Mengniu, which booked an increase in 2013 sales and earnings this morning (26 March), said it is positioned to benefit from "immense opportunities" in Chinese dairy.
"The Chinese government has initiated policies to facilitate industry consolidation, set higher entry barriers, investigate monopolistic practices on imported milk formula products and relax the one-child policy. These policies support the long-term healthy development of the industry and create immense opportunities for leading enterprises such as Mengniu."
Over the course of 2013, Mengniu said it completed a number of strategic initiatives to bolster its position in the sector. The group acquired local infant formula group Yashili International Holdings, established a chilled products joint venture with France's Danone and increased its control of dairy farming businesses China Modern Dairy Holdings and YuanShengTai Dairy Farm.
The company also "actively adjusted" its product portfolio and put more resources behind "key brands".
During the year, Mengniu said revenue rose to CNY43.36bn, up 20.4%. Profit attributable to owners of the company increased 25.2%, rising to CNY1.63bn in the 12-month period.
Click here to view the full results announcement.
How will the food industry fare in 2014? We asked food professionals their thoughts on issues including consumer confidence, M&A and NPD. Join just-food editor Dean Best, former IRI/PwC economist Rod Street and Palatine Private Equity's Charlotte Ashton in our annual bellwether webinar on Friday 28 March. Register here.
Canadean's "China Mengniu Dairy Company Limited : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The...
Inner Mongolia Mengniu aims to reach its target of being a top 10 global dairy manufacturer by 2015. In order to achieve this, the company will continuously develop its brand image, aiming to present ...
Dairy in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descri...
Current value growth for drinking milk products slowed in 2012 and is expected to continue to slow in 2013 due to slowing economic growth in China and quality problems that negatively influenced consu...
Yogurt is produced by the bacterial fermentation of milk, and it is rich in calcium, protein, riboflavin, vitamin B6, and vitamin B12. Cow's milk is used to make yogurt, but even sheep, goat, yak, and...
The report presents detailed data on consumption trends in the Butter & Spreadable Fats category in China, analyzing consumption volumes and values at segment level. It also provides indispensable dat...
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- 2015 preview: A better deal for M&A sellers
- Interview part 1: BRF CFO Augusto Ribeiro
- Interview: How BRF plans growth in stagnant Europe
- General Mills earnings drop one-third
- Kraft to reappraise business, says new CEO Cahill
- PepsiCo opens snacks plant in Saudi Arabia
- Pork Farms "disappointed" over Kerry deal ruling
- Bimbo to buy Saputo's bakery arm