Shenzhen Fangda lifts profit

Building materials manufacturer Shenzhen Fangda Industry Co has announced a 199 per cent increase in its unaudited net profits for the first half, to 44.02 million yuan (about HK$37.23 million) from 14.7 million yuan.

The B-share company said the increase was due largely to improvements in development and sale of new products.

Turnover rose to 107.7 million yuan from 36.32 million yuan on earnings per share of 0.29 yuan.