Chinese dairy Mengniu saw its profits fall in 2012 on the back of declining sales.

Net earnings in the 12 months to the end of December tumbled 19.1% to CNY1.44bn (US$231.7m), the company reported today (27 March). Operating profit in the period amounted to CNY1.50bn compared to CNY1.90bn last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The Hong Kong-listed company attributed the loss to shrinking sales in 2012 and said it will boost its cooperation with Denmark’s Arla Food to tighten food safety standards in the coming year.

Mengniu’s sales are still being affected by the 2008 milk safety scandal, after toxic chemicals were found in its dairy products. Revenues in 2012 were down 3.5% to CNY36.08bn.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now