Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

Tianjin Zhongxin Pharma posts a 22% on-year increase in net profit in Q1 2010
Published on: 2010-05-04
Share to
User Rating: / 0
PoorBest 

alt

SINGAPORE: Mainboard-listed Tianjin Zhongxin Pharmaceutical Group recorded a 22 per cent on-year increase in net profit to RMB112 million or about S$22.4 million for the first quarter of 2010.

In a filing with the Singapore Exchange, the firm attributes the better performance to the increased profits from the Group's core business activities.

Tianjin Zhongxin is a wholesaler and retailer of Chinese patent medicines and medicinal materials, pharmaceutical raw materials and western medicines.

It also manufactures bioengineered drugs and health products.

For the first three months ended 31 March 2010, the firm saw a nine per cent rise in revenue to some RMB741 million on-year.

Tianjin Zhongxin said changes in the company's sales structure also contributed positively to its gross profit margin.

The gross margin rate rose to 47.4 per cent for the first quarter 2010, up from 44 per cent a year ago.

It also reported that it spent RMB11 million on acquiring fixed assets and had a cash injection of RMB46 million for this quarter drawn from bank facilities.

The firm said earnings per share for the first quarter is RMB0.30 cents, up from RMB0.25 cents in 2009.

Tianjin Zhongxin has proposed a 10 bonus ordinary shares to be issued for every 10 ordinary shares held.

The proposal is subject to the approval of the relevant authority.
Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.