Mengniu reports 1Q increases

Mengniu Dairy of Inner Mongolia has said its sales growth for the first quarter to March has outstripped the industry performance of 20%, and is meeting its internal sales target as well.

According to a report in Hong Kong-based The Standard, the price of raw milk has also increased by 2% in so far this year, compared to the same period in 2005, as well as sugar prices. Gross margin for the past two years has been stable at 22.3%, the financial controller Claudia Lo said at the company’s annual general meeting.