China Modern Dairy (HKG:1117) expects pre-tax profit of at least 43 million yuan for the six months ended June 30, compared with a pre-tax loss of 972 million yuan a year prior.
The dairy company attributed the forecast to a narrower loss from changes in the fair value of dairy cows, a higher gross profit from sales of raw milk, and a decline in feed costs, according to Thursday Hong Kong bourse filing.
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.