Companies

Sichuan Changhong H1 net profit up 35.24%

(chinadaily.com.cn)
Updated: 2010-08-30 11:28

BEIJING - Sichuan Changhong Electric Co Ltd, one of China's leading home appliance makers, said its net profit grew by 35.24 percent for the first six months this year.

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Net profit totaled 40.63 million yuan ($5.98 million) and earnings per share stood at 0.014 yuan, up 35.24 percent from a year earlier, the company said in a statement filed to the Shanghai Stock Exchange on Sunday.

Revenues increased 40.18 percent year-on-year to 18.61 billion yuan for the first half this year on the back of robust growth in its sales of flat-screen TVs which were up 67 percent, as well as LCD TVs and PDP TVs, according to the statement.

The home appliance-maker also saw a sharp rise in overseas sales which climbed by 260 percent in Europe and rose by 70 percent in Australia.

Changhong's thriving business also stemmed from progress in research & development, adjustment of product structure, brand promotion and management innovation, said the statement.