BIZCHINA / Pan Gang
Dairy producer reports 30% profit increase
(Xinhua)
Updated: 2006-02-13 14:30
China's leading dairy producer Yili Industry Group Co has announced a 30%
year-on-year profit increase in 2005, with profits climbing to 492
million yuan (US$61.5 million).
Main operating Dairy producer Yili reports 30% profit increaseturnover of
the Shanghai-listed Inner Mongolia Yili Industry Group Co. Ltd. rose
39.75 percent to 12.175 billion yuan (1.52 billion dollars), said the
report.
With rapid development last year, Yili is the first dairy producer in
China to have an operating turnover exceeding 10 billion yuan (1.25
billion dollars), observers said.
The company has world-class production equipments and China's first dairy
research institute, said Chairman of Board of Yili Pan Gang.
Yili made an effort to expand its market in 2005. Newly acquired markets
led to a 20 percent increase in sales, Pan said.
Pan said his company aims at becoming one of the top 20 dairy producers
in the world by 2010, and one of the top 10 by 2015.
(For more biz stories, please visit Industry Updates)
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