July 21 -- Cachet Pharmaceutical Stock Corporation (002462) posted an 18.46 percent year-on-year increase in net profit to 30.15 million yuan in the first half of 2011, with earnings per share of 0.19 yuan, reports p5w.net, citing a company filing.

Sales revenue in the first half rose 25.59 percent year-on-year to 771.33 million yuan.

The company attributed the improved performance to the 47.1 percent growth in the revenue recorded by its wholesale medicine business and the increase in its gross margin by 0.33 percent.

Cachet Pharmaceutical predicted a 0-30 percent year-on-year increase in net profit for the first three quarters of 2011.