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Industrial Securities' profit drops 44.23% in 2011

Feb. 2, 2012 (China Knowledge) - Industrial Securities Co<601377>, a mid-size brokerage based in Fuzhou, Fujian Province, yesterday said its un-audited net profit attributable to shareholders for 2011 reached RMB 439 million, reflecting a year-on-year plunge of 44.23% from RMB 787 million.

Last year, the Shanghai-listed firm's operating revenue declined 15.29% from a year earlier to RMB 2.32 billion. Earnings per share were RMB 0.20 in 2011, 48.72% less than RMB 0.39 in 2010.

As of Dec. 31, 2011, the brokerage had RMB 21.95 billion in total assets, down 28.12% from a year earlier, and the firm's net asset attributable to shareholders down 0.41% year on year to RMB 8.43 billion.

Industrial Securities said it will release the audited fiscal result for 2011 on Apr. 17, 2012.

In December alone, the securities company suffered a net loss of RMB 13.23 million but earned RMB 110 million in operating revenue, sources reported.

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