Product mix boosts Mengniu Dairy profits in first half

China Mengniu Dairy (2319.HKG), the country’s largest dairy producer, on Wednesday reported first half profit jumped 16% from a year earlier to US$122 million (RMB749.5 million), Bloomberg reported. Sales increased 13% to US$3.37 billion. The company introduced new and more expensive products this year. Mengniu is seeking foreign partnerships and enhancing raw material security to win back the confidence of Chinese consumers as a series of food safety scandals drove buyers away from domestic dairy products.