Shanghai Bright Dairy & Food Co has posted 2002 net profit of 226.31m yuan (US$27.3m), a rise of 39% year-on-year, mainly due to growth in the company’s core operating revenue.

Core operating revenue rose 43% year-on-year to 5.02bn yuan for 2002.

The company’s total assets were valued at 2.94bn yuan at the end of 2002, and return on net assets dropped to 14% from 30% in the previous year, reported Xinhua Financial Network.