Yili Industrial Group has booked a jump in first-half profits, boosted by the Chinese dairy firm’s growing market share.
Operating profit in the six months totalled CNY24.02bn (US$3.9bn), up 13.4% on the comparable period of last year. Interim net profit soared 125%, the group added.
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Gains were driven by a 17.9% increase in liquid milk revenue, which Yili said was “far higher” than the market average.
The company said its brands benefited from a focus on quality at a time when high-profile scares in the Chinese dairy sector have increased the importance of food safety issues for Chinese consumers.
Click here for the full results announcement.
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