- Tuesday 2010-08-31 17:29
August 31 -- China Mengniu Dairy (2319.HK) reported first half revenue increased 19.31 percent year-on-year to 14.43 billion yuan while net profit dropped 6.5 percent year-on-year to 619 million yuan, reports 163.com, citing a company filing.
Gross margin in the first half of 2010 decreased to 26.2 percent from 26.7 percent in the first half of 2009.
China Mengniu Dairy’s sales and marketing costs increased to 2.6 billion yuan in the first half of 2010 from 1.94 billion yuan in first half of 2009, amounting to 18 percent of total revenue.
Revenue from fresh milk sales increased 21.1 percent year-on-year to 12.46 billion yuan in the first half of the year, accounting for 86.4 percent of total revenue.
China Mengniu Dairy also expanded production capacity to 6.14 million tons in the first half of 2010.
