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Zhejiang Supor Cookware sees profit down 9.28% in Q1

May. 2, 2012 (China Knowledge) - Zhejiang Supor Cookware Co Ltd<002032>, a Shenzhen-listed company specializing in producing pressure cooker, reaped RMB 129 million in net profit attributable to shareholders in the first quarter of this year, down 9.28% from a year earlier.

Operating revenue climbed 0.28% year on year to RMB 1.92 billion in the three months ended Mar. 31, 2012. In the reporting period, the firm's earnings per share were RMB 0.22, down 12% year on year from RMB 0.25.

Gross profits for the first quarter totaled RMB 176 million with gross margin of 9.14%, nearly unchanged from 9.34% in the same quarter of 2011, said the company.

At the end of March 2012, the pressure cooker maker had RMB 4.35 billion in total assets, whereas it had RMB 4.39 billion at the end of last year, reflecting a decline of 0.98%.

The company also expects to add around 20,000 points of sales within two years, sources reported.

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