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Youngor sees net profit more than doubled in 2009

(Xinhua)
Updated: 2010-03-23 11:42

BEIJING: Chinese clothing manufacturer Youngor Group Company Limited (Youngor) reported Tuesday that its net profit in 2009 more than doubled from a year earlier.

Special Coverage: 2009 Annual Reports of Listed Companies
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In its annual business report filed to the Shanghai Stock Exchange, the Ningbo-based company said net profits last year rose 106.18 percent to 3.26 billion yuan ($478 million). The earnings per share stood at 1.47 yuan, up 107.04 percent from the previous year.

The company attributed the surge in net profit mainly to its expansion in the domestic market of its core business of branded garments. Its real estate business saw a rise in net profit driven by climbing home prices, according to the report.

Just after the market opened Tuesday, shares of Youngor hit 15.50 yuan per share, down 1.08 percent from the previous day's close despite the profit report.