August 23 -- Zhejiang Nhu Company (002001.SZ) posted a 15.82-percent year-on-year increase in net profit to 634 million yuan in the first half of 2011, reports yicai.com, citing a company filing. Earnings per share (EPS) were 0.87 yuan, down 25 percent.

Sales revenue in the same period grew 25.11 percent year-on-year to 2.03 billion yuan. Revenue from raw medicine sales hit 1.97 billion yuan, with a gross margin of 47.06, while revenue from pharmaceutical preparation sales reached 22.31 million yuan, with a gross margin of 27.06 percent.

The company, which produces vitamin A and C, predicts a 20-percent growth rate in net profit in the first three quarters of 2011.

According to China Chamber of Commerce for Import & Export of Medicines & Health Products, the export price of vitamin C fell 5.51 percent in the first half, while the export price of vitamin E stayed around US$17 per kilogram.

Source:CapitalVue