Chinese infant formula maker Yashili International Holdings saw its earnings climb in the first half of the year on the back of increasing sales.
Net profit increased 34.5% to reach CNY295.3m (US$48.2m) in the six months to the end of June. Operating profit was up 44% to CNY372.6m.
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Yashili, which agreed a deal to be acquired by China Mengniu Dairy in June, attributed the increases to sales growth of 27.5% to CNY2.15bn and a drop in the cost of raw milk powder.
Revenues, the company said, were boosted by “successful sales strategies” and the continual launch of high-end products.
Click here to view the full earnings release.
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