Hisense Kelon says net may grow 320pc

PUBLISHED : Saturday, 22 January, 2011, 12:00am
UPDATED : Saturday, 22 January, 2011, 12:00am

Hisense Kelon Electrical Holdings, one of the mainland's largest manufacturers of air conditioners and washing machines, expects to have posted hefty gains last year after it completed a significant asset restructuring. In a filing with the Hong Kong stock exchange, Hisense Kelon chairman Tang Yeguo said the company's net profit last year was estimated to have increased by 280 per cent to 320 per cent from the previous year. That would result in a net profit of 570 million yuan (HK$674 million) to 631 million yuan, compared with the previous year's 150.2 million yuan.