Thursday 2011-08-18  17:34 Publisher: CapitalVue
August 18 -- Ningbo Pioneer New Material (300163.SZ) posted a 4.66-percent increase in net profit from the first half of 2011 to 16.04 million yuan, with earnings per share of 0.21 yuan, reports p5w.net, citing a company filing. Revenue rose 27.92 percent to 101 million yuan during the reporting period. The percentage changes are year-on-year.

The company attributed the revenue growth to greater production capacity during the reporting period. Net profit growth was less the revenue growth due to higher operating costs and administration expenses.