Chinese dairy firm American Dairy has upped its sales forecast for 2007 after enjoying a buoyant third quarter.
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The company, which operates through local subsidiary Feihe Dairy, expects sales to climb by at least 30% by the end of year to reach US$160m. The company’s previous forecast was $150m.
American Dairy confirmed its third-quarter numbers today (20 November) after issuing a preliminary set of figures last week.
The company saw operating income jump 53% to $8m, which was backed by a 26% rise in sales to $41.2m.
CEO Leng You-Bin said: “Our newest premium infant formula line, Firmus, resonated well with consumers during the quarter and continued demand for our other high quality products, like the CPP and Nucleotide series, enhanced our revenue and operating income performance.”
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By GlobalData
