August 1 -- Huafu Top Dyed Melange Yarn (002042) reported that its net profit rose 46.76 percent year-on-year to 241 million yuan in first half of 2011, for earnings per share of 0.87 yuan, reports National Business Daily, citing a company filing. Revenue increased 22.98 percent year-on-year to 2.82 billion yuan during the reporting period.

Revenue from dyed and non-dyed yarn increased 21.32 percent and 13.69 percent year-on-year to 2.373 billion yuan and 322 million yuan during the reporting period, respectively. Revenue from sales in eastern China rose 48.31-percent year-on-year in first half of 2011, while revenue from Hong Kong fell 3.48-percent year-on-year.

Morgan Stanley’s domestic mutual fund increased its holdings in Huafu Top Dyed Melange Yarn to 1.89 million shares from one million shares during the reporting period.

The listed company plans to distribute 10 shares for every 10 held.

Source:CapitalVue