China's Neusoft posts jump in net profit

BEIJING - Neusoft, one of China's leading IT solution and service providers, posted a jump in first-quarter net profit compared with a year earlier, citing robust business in medical systems.

Net profit rose 45.5 percent to 27.6 million yuan ($4.4 million) in the first three months, said a report on the website of the Shanghai Stock Exchange on Saturday.

During the January-March period, Neusoft's revenue went up by 12.8 percent on an annual basis to 1.6 billion yuan, it added.

The Dalian-headquartered company attributed the good performance mainly to a surge in its medical system business which grew by 59.9 percent in the first three months to 244.7 million yuan, accounting for 15.2 percent of the company's total revenue.

The firm sold software of 1.35 billion yuan in the first quarter, up 7.7 percent from the same period last year and accounting for 83.8 percent of its total revenue, it said.

However, Neusoft saw its revenue from international sales of software decline by 25.7 percent to $62.2 million. The company did not specify why international business shrank.

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