Jul. 26, 2012 (China Knowledge) - Lao Feng Xiang Co Ltd<600612><900905>, which is principally engaged in production and distribution of gold and silver products, jewelry, diamond and related products, announced yesterday that it expects its net profit to grow 11.19% YoY to RMB 313 million in the first half of this year.
Basic earnings per share were estimated at RMB 0.72 during the period, said the company in a statement.
Lao Feng Xiang said the increase in net profit was due to strong sales and higher profitability of gold jewelry.
The company's operating revenue was forecast to increase 15.20% YoY to RMB 13.45 billion.
In the first quarter of this year, Lao Feng Xiang's net profit rose 18.98% YoY to RMB 168.24 million and its operating revenue increased 10.93% to RMB 7.20 billion.