Yili Group, a leading dairy company based in New Zealand, is predicting a steady increase in revenue for the upcoming year, following impressive growth during the first half of the current year. The company’s subsidiaries, Westland Milk Products and Oceania Dairy, reported a joint unaudited revenue growth of 16% during the first half of this year, compared to the same timeframe in the previous year. In addition, the pre-tax profit experienced a 12% increase.
Zhiqiang Li, the Executive Director of Yili Group, stated that the companies are in an excellent position for sustained growth due to significant investments in their production capacity at essential sites.
“Major investments have been made to increase the production capacity of high-demand, high-value products at Westland’s Hokitika and Rolleston sites, as well as ODL’s Glenavy facility. This is in response to the rising global demand for top-quality dairy products,” said Li.
Among the significant upgrades is an increase in butter production by 10,000 tonnes at the Hokitika site, as well as enlarged skim milk powder output at the Glenavy site.
These enhancements have facilitated a 20% growth in UHT cream production at the Rolleston site. A considerable amount of this production is exported to China, facilitated by the addition of new equipment such as a silo and revamped unloading facilities.
In the past year, Westland and Oceania have partnered in sales and marketing ventures to offer a wider variety of dairy products.
“While the profits for the individual companies will experience a period of consolidation, both total revenue and profit margins are projected to continue their healthy growth trend,” added Li.
**What is the projected growth for Yili Group?**
Yili Group is anticipating consistent revenue growth in the upcoming year, following a significant increase in the first half of the current year.
**What key upgrades have been made to increase production?**
Key upgrades include a 10,000-tonne increase in butter production at the Hokitika site, as well as an expanded skim milk powder output at the Glenavy site.
**What collaborations have occurred between Westland and Oceania?**
In the past year, Westland and Oceania have collaborated on sales and marketing to offer a broader range of dairy products.
