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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.