(Business Times) China Dairy Group Ltd on Monday announced that for third quarter ended Sept 30, 2011, it has swung into the black with a profit of RMB 1.87 million compared to losses of RMB 47.9 million a year ago.
Revenue increased by 12.4 per cent year-on-year to RMB 482.24 million attributed to a rise in sales of materials, finished goods, liquid milk and milk powder. Sales of materials surged by 267 per cent to RMB 42 million for Q3 from a year ago.
The company expects to perform better in FY2011 as compared to FY 2010. It will continue to invest in product quality, product innovation, branding and its distribution network. However, it warns of intense competition and exerted pressure on its gross profit due to higher prices of key raw materials.
By YEO AIQI
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