date:Apr 01, 2013
Chinese dairy company Mengniu has reported revenues down 3.5% and net profit down from 4.3% to 3.5% of revenues. Chinas economy grew 7.8% during the year, but slowed by 1.4 percentage points compared with the prior year.
Mengnius production capacity increased by 7.5% to 7.58 million tonnes.
In response to the erosion of consumer confidence in Chinese dairy products caused by several food quality and safety incidents during the year which Mengniu felt may have had some adverse impact on sales