Qian Hu posts 39.7% rise in 4Q net profit

Ornamental fish breeder Qian Hu Corporation said it posted a 39.7% rise in net profit to $886,000 for the fourth quarter of FY2011 due to the sale of its Guangzhou factory last December.

The Guangzhou factory, which manufactures aquarium and pet accessories, made a gain of $952,172 on disposal.

For the full year ending December, Qian Hu’s net profit fell 17.7% to $3.5 million on the back of a 3.1% drop in revenue to $88.3 million.