Profit attributable to equity holders of the Company was ¥661.9m (2008: ¥582.9m). Basic and diluted earnings per share were both ¥0.424 (2008: ¥0.409).
During the first half of 2009, the selling and distribution costs of the Group amounted to ¥1,942.5m (2008: ¥2,288m), representing 16.1% (2008: 16.7%) of the Group’s revenue, down by 0.6 percentage points as compared with the corresponding period last year.
In line with the Olympic theme, the Group increased expenses on related advertising and propaganda, and launched various thematic promotion campaigns which commanded higher spending in the first half of 2008.
As the Group reduced relevant spending in the first half of 2009, the ratio of advertising and promotion expense over the Group’s revenue decreased from 9.2% in the first half of 2008 to 8.7% in the current period.
In the first half of 2009, administrative and other operating expenses amounted to ¥463m (2008: ¥355.9m), representing 3.8% of the Group’s revenue (2008: 2.6%), up by 1.2 percentage points as compared with the corresponding period last year.
During the period under review, the Group improved resources allocation and utilisation rate via an optimised operation and management system. However, its overall administrative and other operating expenses increased primarily due to the impact of the amortisation of the fair value expenses arising from the issued share options.
Source: China Mengniu Dairy
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