China's leading pet food maker net profit up nearly 40% in 2019

JINAN -- China's leading pet food maker Yantai China Pet Foods Co Ltd (China Pet Foods) saw annual growth of 39.97 percent in net profit attributable to shareholders of the listed company in 2019, the company announced Wednesday.

China Pet Foods said its net profit reach 79 million yuan ($11.18 million) last year.

In 2019, the company recorded sales revenue of 1.72 billion yuan, up 21.52 percent year-on-year.

The booming overseas market helped its overseas sales reach 1.37 billion yuan, up 18.37 percent annually and accounting for 79.83 percent of total revenue. Its products are mainly exported to the United States, the EU and Japan.

China Pet Foods entered the pet food business in 1998 in East China's Shandong province. The company produces a dozen series and over 1,000 varieties of pet food, including dry pet food, wet pet food, pet snacks, dog biscuits, dental snacks and cat litter.