China Mengniu Dairy Co (HK:2319) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
China Mengniu Dairy Co. reported a 12.6% revenue drop in the first half of 2024 due to a demand-supply imbalance and sluggish consumer demand, with revenue falling to RMB 44.67 billion. Despite the challenging market, the company improved its gross profit margin to 40.3% and plans a share repurchase of up to HK$2 billion. Alongside financial maneuvers, Mengniu is enhancing its sustainability practices, including green packaging and the dairy industry’s first TNFD report, aligning with its ‘GREEN’ strategy and carbon reduction targets.
For further insights into HK:2319 stock, check out TipRanks’ Stock Analysis page.
