Chinese dairy firm American Dairy has issued preliminary third-quarter results after delaying the filing of its formal figures to the Securities and Exchange Commission.
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The company, one of China’s largest milk powder producers, booked operating income of US$7.6m – a jump of 44% – for the three months to the end of September.
Revenue rose 26% to $32.6m as American Dairy pursued sales of its higher margin products.
CEO Leng You-Bin said: “Our newest premium infant formula line, Firmus, resonated well with consumers during the quarter. Continued demand for our other high margin products, like the CPP and Nucleotide series, enhanced our revenue, gross profit and operating income performance.”
American Dairy did not give a reason for the delay in posting its third-quarter figures but said it had filed a request to the SEC for five extra days to present the numbers.
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