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Haier Electronics Group Sees Growth In Washers, Water Heaters, and Distribution
Aug 17, 2011
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Haier Electronics Group Co., Ltd., expects to report revenues of RMB 24,149 million (approx US$3,780 million) for the first half of 2011, up 68% from restated revenues of RMB 14,384 million for the first half of 2010. Audited results are expected to be published on Aug. 29, 2011. Revenue, gross profit, and net profit for 2010 were all restated.

Gross profit for the first half of 2011 was RMB 2,824 million, up 49% from RMB 1,892 million in the first half of 2010. Net profit in the first half of 2011 was RMB 599 million, up 77% from RMB 338 million in the first half of 2011. The first half 2011 increases were attributed mostly to Haier's integrated channel services business, which is expected to show an increase of some 124% in revenue and 118% in segment results compared to restated figures from the first half of 2010.

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