Mengniu 2013 Profit Beats Estimates on Milk Beverages
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China Mengniu Dairy Co., the country’s largest dairy producer, posted profit that beat analyst estimates last year as Chinese demand rose for liquid milk and milk beverages. The stock surged the most in 10 months.
Net income climbed 25 percent to 1.63 billion yuan ($263 million) in 2013 and sales increased 20 percent to 43.4 billion yuan, the Hohhot, Inner Mongolia-based company said in a filing today. Analysts projected profit of 1.5 billion yuan, according to the average of 13 estimates compiled by Bloomberg.