China Mengniu Dairy's (HKG:2319) attributable profit plunged 98% to 104.5 million yuan in 2024 from 4.81 billion yuan in 2023, according to a Wednesday filing with the Hong Kong bourse.
Earnings per share at the dairy company fell to 0.027 yuan from 1.216 yuan a year earlier. Analysts at Visible Alpha estimated EPS at 0.93 yuan.
Revenue declined 10% to 88.7 billion yuan from 98.6 billion yuan in the previous year. Visible Alpha analysts forecast revenue at 89.3 billion yuan.
The company declared a final dividend of 0.509 yuan per share, payable June 27 to shareholders on record as of June 18.
Shares rose 7% during Thursday's late morning trading.
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