Oceania Dairy, Yili's NZ dairy processor, grows sales and losses supplying parent

Thu, 24 May 2018

By Jonathan Underhill May 24 (BusinessDesk) - Oceania Dairy, the South Canterbury-based dairy company owned by Inner Mongolia Yili Industrial Group, has continued to make products for the Chinese market in New Zealand at a loss, its 2017 accounts show. Revenue jumped 39 percent to about $228 million in calendar 2017 but much of that was swallowed up in costs, leaving gross profit 27 percent higher at $9.38 million. Administration costs drove up expenses, which climbed about 37 percent to $24 million. After tax, the loss widened to $13.5 m...

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