China Mengniu Dairy, the country’s largest dairy group, has booked a jump in full-year profits on the back of strong sales gains.
The company today (27 March) posted a 28.4% rise in net profit for 2011 to CNY1.59bn (US$251.82m).
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Revenue rose 23.5% during the year, climbing to CNY37.39bn. The company said sales were driven by the launch of high-end products as it moved to “optimise” its product portfolio.
The Chinese dairy firm also drove revenues by expanding into Hong Kong and Macau. These launches were “important first steps” as it looks to capitalise on international expansion opportunities, the company said. During the year, the group established an overseas sales centre to “tap into the international market”.
Mengniu added it was able to improve margins, as it benefited from synergies following its merger with Junlebao.
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