Lighting product maker Foshan Electrical and Lighting says profit rose 32.36 per cent last year to 170.23 million yuan (about HK$157.97 million) from 128.61 million yuan in 1994.
The profit, based on international accounting standards, just exceeded the company's own forecast of 170 million yuan when it listed in Shenzhen in August last year.
Sales rose to 547.19 million yuan from 536.92 million yuan, according to an announcement in the Hong Kong Commercial Daily yesterday.
Earnings per share fell 16.74 per cent to 92.5 fen from 1.11 yuan.
Foshan Electrical, based in Foshan, in Guangdong province, said the profit increase was helped by respectable sales of its products.
Last year, it made 188.13 million yuan worth of light bulbs, 6.96 per cent more than in 1994.