China's dairy giant Yili's revenue tops 90b yuan in 2019

HOHHOT -- Chinese dairy giant Inner Mongolia Yili Industrial Group Co Ltd generated a revenue of 90.2 billion yuan (about $12.8 billion) in 2019, up 13.4 percent year-on-year, the company announced Tuesday.

Yili also reported a 7.7-percent year-on-year growth in net profit attributable to shareholders of the company last year, which reached 6.9 billion yuan.

The company raked in 20.7 billion yuan in the first three months of this year, with a net profit of 1.2 billion yuan, according to its Q1 financial report released on the same day.

As of the end of last December, Yili had 1.91 million offline liquid milk points of sale (POSs) in China, a 9.1-percent annual increase from the previous year, and about 1.04 million POSs in rural towns and villages, the company said.

Yili has stepped up efforts in building a global network of sustainable supply chains by acquiring New Zealand's Westland Co-Operative Dairy Company Limited, speeding up the construction of its production base in Indonesia and expanding the Southeast Asian market.

The company expects its revenue to be 97 billion yuan and total profit before tax to be 6.1 billion yuan in 2020.