HK-listed China Modern Dairy jumps on robust earnings forecast

Reuters2021-07-05

** Shares of China Modern Dairy Holdings Ltd rise as much as 7.5% to HK$1.87, the highest since June 8, on course for third consecutive session of gains

** Anhui-based raw milk producer expects to record a profit of not less than 460 mln yuan ($71.2 mln) for six months ended in June, an increase of not less than 100% from a year-ago period

** China Mengniu Dairy Corp backed company says the increase is due to double-digit growth in its raw milk production and sales volume, cost reduction and effective control of costs and expenses

** Shares of Mengniu Dairy rises 2.4%; the sixth biggest percentage gainer in the China Enterprises Index

** The Hong Kong composite Industry Index tracking consumer staples gains 0.3%

** The Hang Seng China Enterprises Index slips 0.9%, and the benchmark index eases 0.3%

** As of last close, the stock had slid 6.5% this year

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
12