Percent Year: Year and Profit Surge

percent year: Revenues grew 0.98 percent from a year earlier to 45.92 billion yuan, according to Xinhua China. The company attributed the profit surge to its fast-growing premium, organic segment. Net profits jumped 20.69 percent year on year to reach 4.39 billion yuan for January-September, according to a statement filed to the Shanghai Stock Exchange. Sales of Ambrosial, its high-end yoghurt, are expected to double this year. The acquisition of Hong Kong-listed Shengmu will allow Yili to secure an organic milk supply and to widen distribution in the sector. Yili is paying 4.6 billion yuan for 37 percent of China Shengmu Organic Milk, the largest Chinese organic milk producer and the only one in the country certified to meet European standards. (news.financializer.com). As reported in the news.