Sanyuan profits rise 87%

Beijing Sanyuan Foods Co Ltd (Sanyuan) has posted a robust 87 percent growth in full year net profit, benefiting from the sharp decline in sales of other dairy firms due to the melamine scandal.

Sanyuan's growth momentum is expected to continue this year too, as the nation's top two dairy producers - Mengniu and Yili - have yet to recover, said analysts.

Sanyuan said yesterday that its net profit for 2008 surged by 87.2 percent from a year before to 40.75 million yuan, on sales of 1.41 billion yuan, up 28.2 percent.