Xi'An Aircraft International Corporation (000768), a maker of aviation components, highway and transportation products, building materials, automobile parts, and other products, recorded a 68.78 percent year-on-year drop in 2011 net profit to 107 million yuan, with earnings per share of 0.04 yuan, reports Securities Daily, citing a company filing.

Sales revenue fell 15.85 percent from a year ago to 8.87 billion yuan, while operating profit decreased 71.18 percent to 107 million yuan.

The company attributed the poor performance to the lack of demand from the civil aviation sector, resulting in a drop in sales volume, while the costs of energy and raw materials rose.

The operating profit margin and gross profit margin of its aviation products, one of its two major businesses, fell 40 percent and three percent from 2010, respectively.

Revenue from the domestic market fell 20 percent year-on-year to 7.65 billion yuan, while sales from overseas markets rose slightly.

Source:capitalvue.com