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Milkshake boosts Wahaha revenues

2012-03-20 10:25 Global Times     Web Editor: Zhang Chan comment

Wahaha Group, China's leading food and beverage producer, managed rapid revenue growth despite a slowing economy in 2011, thanks largely to a milkshake.

The company's annual revenue jumped 23.65 percent year-on-year to 67.8 billion yuan ($10.73 billion), according to its latest earning statement.

The company owed its rapid sales growth to a relatively new beverage called Nutri-Express, which brought in 15 billion yuan in sales last year, according to Zong Qinghou, Wahaha's chairman and CEO.

In 2012, Zong said the company would launch another new product to maintain growth. Wahaha has had the highest annual revenue of any Chinese beverage producer for the last 14 straight years.

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