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Wuxi Little Swan posts 22.87% drop in profit for H1

Aug. 23, 2012 (China Knowledge) - Wuxi Little Swan Co Ltd<000418><200418>, a Chinese washing machine maker based in Wuxi, Jiangsu Province, has announced yesterday that its net profit fell 22.87% YoY to RMB 216 million in the first half of this year, dragged downed by weak domestic market.

Basic earnings per share were RMB 0.34 during the period, down 22.73% YoY, according to the company's interim report.

The washing machine maker saw its operating revenue plunge 54.04% YoY to RMB 3.1 billion in the first six months.

Revenue from the domestic market slid 63.90% YoY to RMB 1.74 billion in H1 amid slowing washing machine industry, and that from overseas markets dropped 0.57% to RMB 1.06 billion.

A shares of Wuxi Little Swan lost 0.39% to stand at RMB 7.70 in the middle session today.

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