China Mengniu Dairy Company has booked an increase in sales and earnings during the first-half of the year, boosted by strategic partnerships and acquisitions.
The dairy major said today (29 August) that sales gained 13.3% in the six month period, climbing to CNY20.67bn. Top line gains were driven by strategic cooperation with Danone and Yashili and closer cooperation with Arla Foods, which have enabled Mengniu to further expand its position in the yoghurt and milk formula sectors, the company said.
Gross profit increased 18.9% to CNY5.52bn while net profit was up 16.3% to CNY749m. The company said improved profitability was the result of efforts to optimise and streamline its portfolio.
Mengniu also emphasised it has stepped-up supply chain management and control to improve quality and safety standards across the board.