CHINA Mengniu Dairy Co’s first-half net profit grew to 790 million yuan (US$123 million), up an annual 28 percent, according to its statement submitted to the Hong Kong stock exchange yesterday.

Its revenue gained 29 percent year on year to 18.6 billion yuan during January to June. The company may increase product prices in the second half of the year as prices of raw materials like sugar have surged, said Wu Jingshui, chief finance officer of Mengniu.