August 9 -- Jiangsu Shuangxing Color Plastic New Materials (002585) posted a 364.63-percent year-on-year increase in net profit to 253 million yuan in the first half of 2011, reports Yicai.com, citing a company filing. All percent changes below are year-on-year.

Sales revenue in the same period grew 135.37 percent to 1.028 billion yuan, with earnings per share (EPS) of 1.62 yuan, up 346.8 percent.

The company attributed the strong sales performance its expanded production capacity of polyester film. In the first six months of the year, sales of polyester film grew 205.44 percent to 823 million yuan, while revenue of aluminum laminated film reached 127 million yuan, up 19.12 percent.

Shuangxing Color Plastic also announced that it will invest 2.045 billion yuan into the production of solar cell encapsulation materials and new polyester films.

The company predicts a 100-150 percent increase in net profit in the first three quarters of this year.

Source:CapitalVue