Bright D Apparel Accessories airy & Food suffers loss of RMB 286 mln in 2008

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Bright D Apparel Accessories airy & Food suffers loss of RMB 286 mln in 2008
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Bright Dairy & Food suffers loss of RMB 286 mln in 2008Published: 01 Apr 2009 17:29:57 PST

Apr. 1, 2009 (China Knowledge) – Bright Dairy & Food Co Ltd<600597>, the third largest dairy producer of China, posted its annual report yesterday, which shows that its operating revenue dropped 10.3% from a year earlier to RMB 7.36 billion, while the net loss hit RMB 286 million.

The company attributes the loss to the unforeseen expenses it encountered in responding to the tainted milk scandal that broke last September, including increased corporate management fees of RMB 463 million.

In order to realize operating revenue of RMB 8.26 billion and net profit of RMB 162 million this year, the company has allocated RMB 160 million for fixed asset investment and technology improvement.

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