date:Aug 29, 2012
The firm, which is Chinas biggest dairy processor, reported sales revenue of RMB18.36bn(2.3bn, $2.89bn)for the first six months of 2012. Net profit for the period was RMB644.7m (83.3m, $104.6m) an 18% decrease on the RMB789.75m (98.9m, $124.3m)reported in H1 2011.
The Hong Kong-based companys Liquid Milk segment, which includes UHT milk, milk beverages and yogurt, drove revenue sales accounting for more than 85% of the firms H1 revenue.
Mengniu has attributed the net profit decrease to an ove