Yili's Oceania Dairy narrows full-year loss as production ramps up, sales surge

Wed, 08 Jun 2016

By Jonathan Underhill June 8 (BusinessDesk) - Oceania Dairy, the South Canterbury-based dairy company owned by China's Inner Mongolia Yili Industrial Group, narrowed its annual loss as sales quadrupled from its processing facility at Glenavy. The loss was $16.3 million in calendar 2015, from a loss of $17.6 million in 2014, the first full year for the company created in 2013. Revenue soared to about $141 million from $34 million a year earlier, according to Oceania's financial statements. Yili officially opened its $236 million plant i...

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