China Guangdong Kelon Reports Earnings Aug 15, 2003

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Guangdong Kelon Electric Holdings Co. said Friday its net profit for the 6 months ended June 30 jumped 36 percent to 142.2 million yuan (U.S. $17.2 million) from 104.9 million yuan ($12.7 million) a year earlier.

Both figures are unaudited. The household appliance maker said in April it had slashed its 2002 net profit by half to 101.3 million yuan ($12.2 million) after an auditor questioned its financial results.

Revenue during the period rose to 3.32 billion yuan ($401.1 million) from 2.55 billion yuan. Its operating profit rose to 215.9 million yuan ($26.1 million) from 158.7 million yuan a year earlier. (Dow Jones)

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