China's Sichuan Changhong H1 net profit up 35.24%
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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.
Net profit totaled 40.63 million yuan (5.98 million U.S. dollars) 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.
