News Half-year figures
Chinese dairy giant Yili is growing strongly despite corona
Yili Industrial group, one of the largest Chinese dairy companies, showed a strong performance in the second quarter of 2020. The company has grown faster than expected in the first half of the year, despite the corona crisis.
In the second quarter, Yili Group's revenue increased by 22,5% year-on-year to 26,88 billion yuan, or €3,23 billion. Net profit grew by a whopping 79,3% and reached 2,397 billion yuan, or €287 million. These strong increases have resulted in significant growth in the half-year figures.
Over the first 6 months of the year, the company achieved revenue of €5,7 million (47,528 billion yuan). Net profit was approximately €451 million (3,766 billion yuan). The results are better than expected, making Yili the largest Chinese dairy group.
Corona crisis as a test moment
Pan Gang, chairman and CEO of Yili, said he sees the corona crisis as a test for all companies. According to him, Yili has passed the test well and has shown strong growth amid all the tensions in the market. The figures also show that Yili has increased its e-commerce revenue by 49%. In the future, the company wants to set up new models to optimize the development of the dairy industry.
Chanti Oussoren
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