Qian Hu: 4Q11 net profit jumps 39.7% on sale of factory to $886,000. The Guangzhou factory, which manufactures aquarium and pet accessories, was sold for a cash consideration of $13,000. But as the subsidiary was in a negative net assets position when it was sold, the gain on disposal is $952,172.
For FY11, Co’s net profit declined 17.7% to $3.5m on the back of a 3.1% drop in revenue to $88.3m. Co. is proposing a first and final div of 0.6c / share.