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.”
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.
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