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28-03-2019, 06:52 PM
Mengniu Dairy 2018 profit surges 49 per cent, lifted by strong sales, new premium product mix
* The mainland’s second-largest dairy producer reported 2018 profit of 3.04 billion yuan
* Revenue jumped 14.7 per cent to 68.98 billion yuan
Lam Ka-sing
Published: 6:02pm, 28 Mar, 2019
China Mengniu Dairy, the mainland’s second largest dairy producer, reported a 49 per cent rise in 2018 net profit, bolstered by rising sales and the introduction of premium products.
Net profit was up 48.6 per cent to a record 3.04 billion yuan (US$452 million) for the year ended December 31, while revenue jumped 14.7 per cent to 68.98 billion yuan.
The company declared a final dividend of 0.181 yuan per share, up 50.8 per cent year on year.
Shares in Mengniu jumped 5.5 per cent to close at HK$27.95 in Hong Kong on Thursday, following the year-end results’ announcement on Wednesday night.
Analysts said Mengniu was facing stiff competition from rival dairy producer Yili Group.
“We expect escalated rivalry in the dairy market in 2019 to 2020. According to the management, Yili added 2.9 percentage point of market share in liquid milk in January to February this year, extending its leading position over Mengniu,” said Summer Wang, an equity analyst at Jefferies.
More details in https://www.scmp.com/business/companies/...-sales-new
* The mainland’s second-largest dairy producer reported 2018 profit of 3.04 billion yuan
* Revenue jumped 14.7 per cent to 68.98 billion yuan
Lam Ka-sing
Published: 6:02pm, 28 Mar, 2019
China Mengniu Dairy, the mainland’s second largest dairy producer, reported a 49 per cent rise in 2018 net profit, bolstered by rising sales and the introduction of premium products.
Net profit was up 48.6 per cent to a record 3.04 billion yuan (US$452 million) for the year ended December 31, while revenue jumped 14.7 per cent to 68.98 billion yuan.
The company declared a final dividend of 0.181 yuan per share, up 50.8 per cent year on year.
Shares in Mengniu jumped 5.5 per cent to close at HK$27.95 in Hong Kong on Thursday, following the year-end results’ announcement on Wednesday night.
Analysts said Mengniu was facing stiff competition from rival dairy producer Yili Group.
“We expect escalated rivalry in the dairy market in 2019 to 2020. According to the management, Yili added 2.9 percentage point of market share in liquid milk in January to February this year, extending its leading position over Mengniu,” said Summer Wang, an equity analyst at Jefferies.
More details in https://www.scmp.com/business/companies/...-sales-new
Specuvestor: Asset - Business - Structure.