Mengniu Net Profit Up 13.55% In H1 2009

Chinese dairy company Mengniu has published its financial report for the first half of 2009.

According to the report, the company made revenues of CNY12.098 billion in the first six months of 2009, a decrease of 11.71% compared with CNY13.702 in the same period last year, but an increase of 19% compared with the second half of 2008. Its net profit increased by 13.55% from CNY582.9 million in the same period of last year to CNY661.9 million.

Liquid milk was still the major income source of the company. During the first six months of 2009, Mengniu's revenue from the liquid milk sector was CNY10.288 billion, accounting for 85% of its total revenue.

Mengniu said the company's overall performance in the first half of 2009 met expectations and was recovering to the level achieved before the melamine scandal. During the reporting period, Mengniu further expanded its production capacity and by June 2009, its combined annual production capacity had reached 5.74 million tons.