Chinese dairy company Mengniu has published its annual financial report for 2010, stating that it achieved operating revenue of CNY30.265 billion and its net profit reached CNY1.237 billion.
According to the report, its liquid milk sector contributed the most to its total sales and revenue from this sector was CNY26.872 billion, a year-on-year increase of 18.2%.
The report also showed that Mengniu's gross profit increased by 13.6% year-on-year to CNY7.786 billion. The company said it was mainly because its optimization of product portfolio and its enhance of high-end functional products. In addition, its precise control of costs offset the impact brought by the increase of cost of raw milk.
Mengniu revealed in the report that at present over 70% of its milk is from intensive pastures and it invested over CNY700 million in the constructions of milk resources.