YuanShengTai Dairy Farm has said it expects to book a 90% increase in net profit for 2014.
In a regulatory filing in Hong Kong, the company said: “The company wishes to inform shareholders of the company and potential investors that the group is expected to have a significant growth in results and to record an increase of approximately 90% in its net profit for the year ended 31 December 2014.”
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YuanShengTai Dairy Farm said higher production volume and the average price of raw milk meant sales would rise by no less than 30% in the period.
Profitability was further boosted because it lapped a period when one-time listing fees associated with its IPO were registered and net finance costs dropped.
