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GD Midea sees 5.73% rise in H1 profit

Aug. 27, 2012 (China Knowledge) - GD Midea Holding Co Ltd<000527>, a leading Chinese home appliance manufacturer and distributor, has announced that its net profit climbed 5.73% YoY to RMB 2.09 billion in the first half of this year.

Earnings per share were RMB 0.62 during the period.

The company saw its operating revenue plunge 37.15% YoY to RMB 38.99 billion in the first six months, due in part to a high comparison figure and a slowing home appliance industry.

Gross profit margin at the washing machine sector rose 3.89 percentage points to 21.48% in H1, and that at air-conditioner sector grew 4.2 percentage points to 22.19%. However, the refrigerator sector saw its gross profit margin decline in the period.

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