July 20 -- Far East Industrial (000681) filed its first half losses worsened by 600.81 percent year-on-year to 6.06 million yuan on revenue of 486 million yuan, also down 64.91 percent year-on-year, reports 163.com. First-half EPS was negative 0.03 yuan, falling 650 percent year-on-year.

However, the Changzhouo-based company’s operating profit rose by 6.95 percent in first half due to lower spending on management. Net losses resulted from a higher base in the first half of 2010 due to write-offs of accounts payable, the source said.

Far East Industrial produces clothing and computer software.

Source:CapitalVue