Mead Johnson profit rises as volumes grow in China, Hong Kong

Thursday, 24 Oct 2013 | 7:49 AM ET

Oct 24 (Reuters) - Mead Johnson Nutrition Co, the maker of Enfamil baby formula, reported a 15 percent rise in quarterly profit, mainly due to strong volume growth in China and Hong Kong.

The company said in August that it would pay fines in relation to a Chinese probe into possible price fixing and anti-competitive practices by foreign baby formula makers.

Mead Johnson's net income rose to $161.6 million, or 79 cents per share, in the third quarter ended Sept. 30 from $140.3 million, or 69 cents per share, a year earlier.

Excluding items, the company earned 91 cents per share.

Sales rose 14 percent to $1.05 billion.

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