Top Chinese dairy company Yili 2014 profits up 30 pct
Xinhua, April 25, 2015 Adjust font size:
Top Chinese dairy company Yili Group reported 30-percent net profit growth in 2014 on Saturday.
The Shanghai-listed company raked in combined net profits of 4.1 billion yuan (677 million U.S. dollars), according to its annual report.
Statistics from China General Chamber of Commerce showed that last year the Inner Mongolia-based company beat domestic players to take the first place in five areas including milk powder, ice cream and liquid milk.
The company's business revenue increased 13.9 percent to 54.4 billion yuan in 2014 from the previous year, flat from the 13.8-percent increase rate registered in 2013.
Yili expressed confidence about the industry's future, citing growth in population and people's disposable income, higher rate of urbanization and China's relaxation on one-child policy. Endi