Natural Dairy narrows loss

Natural Dairy (NZ) Holdings posted a net loss of HK$64.83 million for the year to May 31, narrowing the loss from HK$103.75 million the year before, on the back of lower distribution, administration and finance costs.

The improved results of the dairy firm and consumer goods trader was also helped by a 76.6 per cent year-on-year jump in revenue to HK$64.78 million, which the company said was due to better sales of health-care products in China.

Its food, beverage, health-care and dairy products trading operation booked an operating loss of HK$20 million in the period, from a loss of HK$36.39 million in the previous year. Beverage and dairy products manufacturing recorded an operating profit of HK$1.97 million, from a loss of HK$23.8 million.

The firm said its main focus is to build up its marketing network, adding it will use digital media for the purpose.

No dividend was proposed.

Trading of the company’s shares has been suspended since early September 2010, pending the release of inside information stemming from an anonymous complaint to Hong Kong’s stock exchange.