China Modern Dairy Holdings Ltd. (HK:1117) has released an update.
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China Modern Dairy Holdings Ltd. reports a robust interim financial performance for the first half of 2024, with cash EBITDA rising by 19.2% year-on-year to RMB1,515 million, bolstered by increased raw milk production and sales. The company has also seen a significant upgrade in its ESG rating to BBB by MSCI Inc., reflecting strong sustainability practices, and maintained a ‘BBB’ credit rating with a stable outlook from Standard & Poor’s. However, the board decided against declaring an interim dividend for the period.
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