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Bright Food's profit up 15.14% in 2011

Feb. 8, 2012 (China Knowledge) - Bright Food (Group) Co Ltd, a leading food producer and retailer in China, reaped RMB 1.38 billion in net profit attributable to shareholders last year, 15.14% more than it earned in 2010.

In 2011, the Chinese food supplier saw its gross profit increase 11.3% from the year 2010 to RMB 3.61 billion, and the firm's operating revenue totaled RMB 75.78 billion last year, up 19.8% year on year.

Bright Food also targets RMB 90 billion-operating revenue by the end of 2012, and its gross profit is expected to reach RMB 4.1 billion this year.

Shanghai-listed Bright Dairy & Food Co Ltd<600597>, the major unit of Bright Food, aims to reap RMB 13 billion in sales revenue this year. The unit's gross margin increased from 37% to 41% in 2011, nearly doubled the average level of 25% in China's dairy industry.

Guo Benheng, President of Bright Dairy & Food, said the company will put a cattle farm into operation by the end of this year with an annual milk output capacity of 13,200 tons.

A RMB 1.4 billion-milk plant, located in Shanghai, is estimated to produce 600,000 tons of milk with annual sales of RMB 4.6 billion, Guo added.

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