China's leading dairy producer, Yili, has announced it realized 492 million yuan (US$61.5 million) in profit in 2005, a 30-percent year-on-year surge, according to a Yili's report.
Main operating turnover of the Shanghai-listed Inner Mongolia Yili Industry Group Co. Ltd. rose 39.75 percent to 12.175 billion yuan (US$1.52 billion), 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 (US$1.25 billion), 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.
(Xinhua News Agency February 13, 2006)