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Gree Electric Appliances sees 30% up in H1 profit

Aug. 24, 2012 (China Knowledge) - Gree Electric Appliances Inc of Zhuhai<000651>, China's largest maker of home air-conditioner, has announced its net profit attributable to shareholders surged 30.06% YoY to RMB 2.87 billion in the first half of this year.

According to a statement filed with Shenzhen Stock Exchange, basic earnings per share were RMB 0.96 for the period, up 23.08% from a year earlier.

In the first six months of this year, the company saw its operation revenue increased 20.04% from a year earlier to RMB 48.3 billion, including RMB 42.83 billion from its air-conditioner business, up 15.11% YoY.

In the first quarter of this year, Gree Electric Appliances realized RMB 1.17 billion in net profit, 25.56% more than in the same period of 2011.

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