YILI RECORDS DOUBLE-DIGIT GROWTH IN REVENUE, NET PROFIT FOR H1 FY2021

Caption: On August 30th, Yili released its FY2021 H1 financial report. The company exceeded market expectations with double-digit growth in revenue and net profit, with gross revenue rising 18.89% YoY to reach RMB 56.506 billion, and net profit attributable to the parent company jumping 42.48% YoY to reach RMB 5.322 billion.

KUALA LUMPUR, Sept 2 (Bernama) -- Yili, Asia's leading dairy company recently released its FY2021 H1 financial report.

The company exceeded market expectations with double-digit growth in revenue and net profit, with gross revenue rising 18.89 per cent YoY to reach RMB 56.506 billion, and net profit attributable to the parent company jumping 42.48 per cent YoY to reach RMB 5.322 billion. (RMB 100 = RM64.36)

Yili's interim results set another new high for the Asian dairy industry, as the latest data makes Yili the first likely dairy company in Asia to exceed RMB 100 billion in revenue. Strong financial performance in H1 FY2021 also suggests that the company will likely continue to maintain its momentum.

In the first half of 2021, the dairy industry faced significant challenges from global economic and trade instability and rising costs for raw materials. However, Yili exceeded its operation targets for the period by leveraging its competitive advantages across the whole industry value chain.

According to a statement, during the reporting period, Yili's main products continued to exhibit strong growth. For instance, the total sales revenue for Satine, AMBPOMIAL, Changqing, Jinlingguan, and Chocliz increased by 20.7 per cent YoY.

Meanwhile, in the non-dairy category, Yili's Inikin Yike mineral water also made a breakthrough in sales growth and has mainly been distributed in big cities through e-commerce, O2O home delivery, and other channels.

While leveraging existing advantages in its distribution channels, Yili also embraced digital channels in response to the latest market trends. Yili's e-commerce business grew 21.8 per cent YoY in the first half of 2021, contributing to the high market penetration rate of 85.7 per cent for its UHT milk.

Yili also leveraged synergy within its ‘global supply chain network’ to ensure the efficient operation of its supply, production, and marketing systems. As of June 2021, the company's total production capacity neared 13.94 million tonnes per year.

In August this year, Rabobank released its annual Global Dairy Top 20 list, in which Yili Group was again listed among the top five global dairy companies. Yili was also ranked as the leading company in Asia for eight consecutive years.

-- BERNAMA