$1 = 6.2781 Chinese yuan renminbi Reporting by Donny Kwok; Editing by Edwina Gibbs and Stephen Coates China Mengniu Dairy returned to black in 2017 due to low raw milk prices, better control over expenses, and solid sales growth of it 's dairy products, which include milk and yoghurt. The company said on Monday that its net profit fell by more than a third from the previous year as lower prices for milk, cheese and yogurt led to higher costs for consumers. The dairy company is increasing development and sales of premium products and working to bring more dairy goods to the country with companies such as Danone Group and Arla Foods.
China Mengniu Dairy returned to black in 2017 due to low raw milk prices, better control over expenses, and solid sales growth of it 's dairy products, which include milk and yoghurt. The company said on Monday that its net profit fell by more than a third from the previous year as lower prices for milk, cheese and yogurt led to higher costs for consumers. The dairy company is increasing development and sales of premium products and working to bring more dairy goods to the country with companies such as Danone Group and Arla Foods.