Zhejiang NHU Co profit more than doubled

Zhejiang NHU Co. Ltd<002001> reported its 2007 profit more than doubled from a year ago thanks to increased sales and higher prices of some of its products.

The company saw its net profit surged 128.28% to RMB 77.07 million or RMB 0.23 per share in 2007. Revenue form core businesses stood at RMB 1.748 billion, up 8.59% from a year earlier, according to its annual report.

It published a statement on Monday predicting a rosy profit for the first quarter. Net profit is estimated to hit RMB 230 million to RMB 280 million during the period, compared with merely RMB 78,000 in the corresponding period of last year.

It recommended a dividend of RMB 0.1 a piece.

The Group's principal activities are the production and sale of pharmaceutical and raw materials. It also manufactures flavor and fragrances and is engaged in import and export businesses.