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China Mengniu Dairy Co ( (HK:2319) ) has provided an update.
China Mengniu Dairy Company Limited has issued a profit warning, anticipating a decrease in total revenue for 2024 due to supply-demand imbalances in raw milk and lower consumer demand. However, the company expects an increase in gross and operating profit margins due to reduced raw milk prices and improved efficiency. Bellamy’s Australia Limited, a subsidiary, is expected to incur losses, leading to a significant impairment provision for goodwill and intangible assets, impacting the company’s financials by approximately RMB3,800 million to RMB4,000 million. China Modern Dairy Holdings Ltd., an associated company, will also incur losses from changes in dairy cow valuations and goodwill impairment, affecting Mengniu’s share of losses by RMB790 million to RMB900 million. Despite these challenges, Mengniu anticipates a profit of RMB50 million to RMB250 million and maintains stable cash flow operations, with no effects on dividends.
More about China Mengniu Dairy Co
China Mengniu Dairy Company Limited operates in the dairy industry, focusing primarily on the production and distribution of dairy products. The company is known for its range of dairy offerings and has a significant market presence in China.
YTD Price Performance: -9.07%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $7.87B
For an in-depth examination of 2319 stock, go to TipRanks’ Stock Analysis page.
