August 5 -- Guangzhou Dongfang Hotel (000524) posted a 405.5 percent year-on-year increase in net profit to 10.02 million yuan in the first half of 2011, reports China Business News, citing a company filing. Sales revenue during that period reached 145 million yuan, up 19.82 percent year-on-year.

The company attributed the strong performance to higher revenue from its catering and hotel businesses. In the first six months, revenue from catering sector climbed 21.79 percent and hotel sector grew 19.5 percent.]

Since Dongfang Hotel is planning to buy assets from its controlling shareholder, its stocks have been suspended from trading since July 13.

Source:CapitalVue