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Northeast Pharmaceutical suffers RMB 392-mln loss in 2011

Apr. 6, 2012 (China Knowledge) - Northeast Pharmaceutical Group Co Ltd<000597>, a leading Chinese pharmaceutical company, announced yesterday that it booked a loss of RMB 392 million last year.

Losses per share were RMB 1.17 in 2011, compared with earnings per share of RMB 0.16 in 2010. No dividend was declared for last year.

Northeast Pharmaceutical said that the loss was a result of a significant decline in the sales prices of vitamin C and related products.

The company's operating revenue dropped 19.58% year on year to RMB 3.88 billion last year.

In 2010, the company's net profit was RMB 53.44 million.

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