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China's dairy giant Yili sees profit for 2011 over double

Mar. 1, 2012 (China Knowledge) - Inner Mongolia Yili Industrial Group Co<600887>, a major Chinese dairy company, reaped RMB 1.81 billion in net profit attributable to shareholders last year, over doubling that realized in 2010.

In 2011, the Shanghai-listed dairy company's operating revenue grew by 26% year on year to RMB 37.45 billion. Earnings per share were RMB 1.13.

Revenue derived from the company's milk powder business recorded high growth with sales exceeding RMB 5.6 billion last year, and sales of its Jin Ling Guan products surged more than 81%, said a person familiar with the matter.

The dairy product supplier invested about RMB 1.4 billion in milk source in 2011, while its bigger rival China Mengniu Dairy Co<2319> spend over RMB 3 billion on the same sector in recent years.

Another Chinese dairy firm Bright Dairy & Food Co Ltd<600597> intends to put a pasture into operation in Wuhan, Hubei Province by the end of this year, sources reported.

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