Bright Dairy H1 Earnings Up 20%


August 30 -- Bright Dairy and Food (600597) posted a 20.03 percent year-on-year increase in first half 2011 net profit to 732.99 million yuan, with earnings per share of 0.0699 yuan, according to a company filing.

Sales revenue in the same period rose 28.18 percent year-on-year to 5.547 billion yuan.

According to a report by China Business News, during the first six months, operating cost increased 32.05 percent, management cost rose 4.05 percent, and finance charges surged 458.42 percent.

The company attributed the increase in operating and management costs to the acquisition of New Zealand's Synlait Milk last year, while the increased finance charges was due to the higher interest charges.

The operating margin of the company's diary business fell 2.51 percent year-on-year in the first six months.



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