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TCL's profit over doubles in H1

Aug. 10, 2011 (China Knowledge) - TCL Corp<000100>, a major Chinese television and mobile phone manufacturer, has posted RMB 538.5-million net profit for the first half of this year, over doubled the RMB 157.6 million it realized in the same period of 2010.

The Shenzhen-listed company attributed the growth principally to TV sales.

In 2011 first half, TCL reaped RMB 27.35 billion in revenue, up 18% year on year from RMB 23.17 billion.

In the reporting period, TCL sold 1.94 million air conditioners, 426,000 refrigerators and 283,000 washing machines, representing a year-on-year increase of 74.93%, 19.33% and 47.4%, respectively.

TCL Multimedia Technology Holdings Ltd<1070>, a unit of TCL, turned loss into profit in the first half of this year with net profit of HK$131.2 million, compared with a net loss of HK$333.8 million in the same period of 2010.

The firm's revenue for 2011 first half reached HK$13.16 billion, up 7% year on year HK$12.24 billion, sources reported.

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