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Gree Electric's 2011 net profit hits RMB 5.24 bln

Apr. 25, 2012 (China Knowledge) - Gree Electric Appliances Inc of Zhuhai<000651>, China's largest maker of home air-conditioners, said yesterday that its net profit jumped 22.48% year on year to RMB 5.24 billion last year.

Basic earnings per share were RMB 1.86 in 2011, and the company proposed a dividend of RMB 5 per ten shares.

Gree Electric Appliances saw its operating revenue surge 37.35% year on year to RMB 83.52 billion in the period.

The air-conditioner segment generated revenue of RMB 74.79 billion last year, 35.70% more than in 2010. Revenue from small home appliance segment soared 64.05% year on year to RMB 1.29 billion.

The Shenzhen-listed company aims to increase its sales to RMB 100 billion this year.

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