Aussie's first-quarter net profit rose 45.9%

　The new policy on milk powder has been officially implemented for more than a year. Brand concentration has further increased, industry competition has intensified, and the number of newborns has decreased, all of which have posed great challenges to dairy companies. On the other hand, thanks to the overall consumption upgrade of society, consumer demand has gradually become high-end and differentiated, and the consumption of high-end dairy products and nutritious foods has continued to be strong, which has also brought opportunities to enterprises.

 

　　Aussie recently released the 2019 Quarter 1 performance announcement, showing that in the 2019 Quarter 1, Aussie achieved sales revenue of RMB 1.519 billion yuan, an increase of 29.0% over the same period of 2018 RMB 1.178 billion yuan; gross profit income was 748 million yuan, an increase of 37.1% over the same period of 2018; net profit attributable to the company's shareholders was RMB 152 million yuan, an increase of 45.9% over the same period of 2018.

 

　　The announcement also pointed out that after deducting the impact of non-cash losses arising from the change in the fair value of the remaining equity of a subsidiary acquired in May 2018, after adjustment, the net profit attributable to the company's shareholders was RMB 195 million, an increase of 87.2% over the same period in 2018.

 

　　Regarding the growth in performance, Aussie said in the announcement that it was mainly benefited from several aspects: first, the sales of the company's own brand infant formula milk powder and goat milk powder products with high profitability continued to rise; secondly, the company continued to improve its global layout, improve quality control and service levels, optimize the shareholder structure, strengthen independent innovation capabilities, and strengthen the internal construction of the organization.