Mengniu Confident Despite Disappointments Of 2008

Chinese dairy major Mengniu has announced disappointing results for the 2008 financial year with the fall-out from the melamine scandal, which blighted the industry in the second half, dealing a severe blow to profits. Mengniu has already outlined plans for rebuilding in 2009, including expanding via mergers and acquisitions to ensure that it benefits from the inevitable round of consolidation that will follow such a crisis. However, the firm has also urged caution about its likely success this calendar year; caution that BMI's forecasts

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