Top Biz News

Little Swan's profits up 455% in 2009

(Xinhua)
Updated: 2010-03-09 11:54
Large Medium Small

BEIJING - Wuxi Little Swan Co, Ltd, a major washing machine manufacturer in China, said its net profits surged 454.93 percent year-on-year to 222.18 million yuan ($32.54 million) in 2009, partly due to strong rural consumption.

Related readings:
Little Swan's profits up 455% in 2009 Appliance maker Little Swan sees profit dive 88% in 2008
Little Swan's profits up 455% in 2009 Midea buys 24% Little Swan stake
Little Swan's profits up 455% in 2009 China's household appliance exports recover in second half of 2009
Little Swan's profits up 455% in 2009 China expands household appliance subsidy program

Business revenue came to 4.38 billion yuan ($641.54 million) last year, up 1.92 percent, said the report filed to the Shenzhen Stock Exchange Monday.

A-shares of the Shenzhen-listed Wuxi Little Swan closed 1.98 percent up to 16.99 yuan Monday boosted by the announcement.

Earnings per share was 0.41 yuan, up 485.71 percent year-on-year.

The company attributed the dramatic lift in profits to the recovery of the domestic economy and the Chinese government's subsidy programs to increase household appliance consumption in rural areas last year.
Specials
Columnists
China Daily E-paper