Zhejiang Huahai Pharmaceutical (600521), a producer of pharmaceutical ingredients, intermediates, and  risperidone tablets, recorded a 131.77 percent year-on-year rise in 2011 net profit to 217 million yuan, with earnings per share of 0.4 yuan, reports yicai.com, citing a company filing.

Sales revenue increased 78.68 percent year-on-year to 1.83 billion yuan, of which sales of pharmaceutical ingredients and intermediates increased 45.08 percent to 1.31 billion yuan, while drug sales contributed revenue of 203 million yuan, an increase of 63.52 percent.

The company plans to distribute cash dividends of one yuan (including tax) for every 10 shares held.

According to Huahai Pharma, it achieved breakthroughs in the research of pharmaceutical ingredients and established a sales network in the U.S., exporting 59.62 million yuan worth of drugs in 2011.

Source:capitalvue.com