Bright Dairy says to return to profit in 2009
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Bright Dairy & Food Co. Ltd, one of China's leading dairy producers, said Saturday that the company was back to profit in the past year after it slipped into the red in 2008 due to the melamine scandal.
The company said in a statement to the Shanghai Stock Exchange that the revival was a result of enhanced technology development, product restructuring, and better management.
Bright Dairy posted a net loss of 285.99 million yuan (about 41.87 million U.S.dollars) in the 2008 period with earnings per share at minus 0.27 yuan, according to the statement.
The company was among the dairy firms which were found to have sold dairy products containing melamine in September 2008, which in high doses lead to kidney stone formation.
The detailed data was not given in the statement, and will be delivered in the company's annual report of 2009, it said.
