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China Resources Sanjiu Medical's 2011 profit down 6.81%

Mar. 7, 2012 (China Knowledge) - China Resources Sanjiu Medical & Pharmaceutical Co Ltd<000999>, a major Chinese pharmaceutical company, announced yesterday that its net profit fell 6.81% year on year to RMB 760 million last year, dragged down by rising costs and expenditures.

Basic earnings per share were 0.78 last year, according to the firm's annual report.

The company realized RMB 5.53 billion in operating revenue last year, 26.58% more than in 2010. The pharmaceutical operations generated RMB 4.7 billion of operating revenue, reflecting a growth of 26.64% year on year.

However, the firm's gross profit margin dropped 2.41 percentage points during the period, due to increases in costs and expenditures.

This year, the company plans to allocate RMB 826 million for capital expenditure, which will be mainly used for technology upgrading and capacity expansion.

China Resources Sanjiu Medical & Pharmaceutical aims to increase its operating revenue by 19.6% from 2011 to RMB 6.61 billion in 2012, of which RMB 5.7 billion will be from pharmaceutical operations.

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