Chinese dairy giant Mengniu reports 13.8% YoY increase in operating profit to 6.17bn yuan ($870m) in 2023, with revenue rising 6.
Chinese dairy giant Mengniu reported a 13.8% YoY increase in operating profit to 6.17bn yuan ($870m) in 2023, with revenue rising 6.5% to 98.62bn yuan. The company's liquid milk business contributed 82.07bn yuan, followed by ice cream, cheese, and milk powder. Despite facing challenges such as a growth slowdown and declining raw milk prices, China's dairy industry has seen resilient demand due to increased health and nutrition awareness post-pandemic.
March 27, 2024
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