Industrial Securities (601377.SH) posted a 13.54-percent increase in net profit to 382 million yuan in the first half of 2011, reports Yicai.com, citing a company filing. Sales revenue in the same period grew 25 percent to 1.39 billion yuan. Percentage changes cited in this article are year-on-year.

Industrial Securities attributed the increase in net profit to higher earnings from its underwriting and other businesses.

In the first six months, Industrial Securities posted a 263.06-percent increase in underwriting business to 144 million yuan, while investment income in the same period grew 460.43 percent to 188 million yuan. The securities company also received interest revenue of 29.96 million yuan in the mid-term, up 24.06 percent.

For its asset management business, Industrial Securities was managing five financing products by the end of June, with a total value of 3.17 billion yuan. The company also posted a 14.21-percent decrease in its brokerage business in the first six months to 576 million yuan, with equity transaction value of 853.36 billion yuan, achieving a share of 1.7 percent in the market.

Industrial Securities’ financing business value was 647 million yuan in the first six months, accounting for 2.36 percent of the market share.

Source:capitalvue