Ausnutria Dairy Upgrades Profit and Sales Expectations
07 Nov 2016 --- Improved efficiency from its factories in the Netherlands has helped Ausnutria Dairy Corporation upgrade its profits and sales expectations for the nine months ending September 30.
The dairy company, which specializes in manufacturing nutrition and infant formula products, said that profits will now be in the range of RMB135m ($20m) to RMB139m ($20.5m) for the period, compared to RMB9.7m ($1.43m) the year previous.
The main reason for the difference in year-in-year profits is that the 2015 figures were dragged down by an inventory write-off of around RMB97.8m ($14.4m).
Ausnutria said its profit expectations have also been boosted by an improvement in sales, which are expected to be up 29 percent on the previous year, powered by its own-branded cow and goat milk-based infant formula products in China, which are expected to grow 65.4 percent and 29.6 percent respectively.
Additionally, it said it had also benefited from an improved financial performance from its operations in the Netherlands.
Yan Weibin, Chairman, said, “We are encouraged by the performance in the first three quarters of 2016, and Ausnutria is ready to meet the important opportunities and industry challenges brought by national policies.”
“The Group will continue to increase production capacity, and work on the integration of the upstream industry chain, achieve the diversification of downstream products, enhance the development of our own-brand business, and enter the nutrition industry, to become a global leading formula and nutritional food supplier, nutrition and health consultants and service provider.”
“With our good foundations and our excellent customer service capability, we believe that the Group will achieve further growth and maximize the value of shareholders.”
In 2016, Ausnutria extended its business into the sale of nutrition products when it acquired Nutrition Care Pharmaceuticals, which has production facilities in Australia.
