August 31 -- Zhejiang Supor ( 002032.SZ) posted a 28.98 percent rise in net profit in the first half of 2011 to 231 million yuan, with earnings per share of 0.4 yuan, reports yicai.com, citing a company filing.

Revenue rose 31.8 percent to 3.48 billion yuan during the reporting period. Revenue from cookware sales jumped 19.79 percent year-on-year to 1.62 billion yuan during the first half of 2011, and revenue from electrical appliances increased 44.24 percent year-on-year to 1.78 billion yuan.

Supor’s gross margin fell between one and two percentage point year-on-year during the first six months due to higher prices of aluminum and stainless steel.

The Taizhou-based company predicts its net profit will rise less than 30 percent year-on-year in the first three quarters.

Shares of Zhejiang Supor (002032) wrapped up the morning trading session at 22.80 yuan this morning.

Source:capitalvue