Companies

China's Haier net profit jumps 52% on expansion of market share

(Xinhua)
Updated: 2010-08-28 14:45

BEIJING - Qingdao Haier Co Ltd, one of the world's leading white goods and household appliance manufacturers, said Friday that its net profit in the first half year jumped 51.83 percent on expanding market share.

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Net profits hit 1.08 billion yuan ($160 million) in the first half year, according to its statement delivered to the Shanghai Stock Exchange.

Earnings per share stood at 0.807 yuan, up 51.69 from a year earlier, according to the statement.

The company attributed its growth in profits to mounting market share due to its upgrading services and product innovations.

The Qingdao-based company, with over 60,000 employees at home and abroad, sells its products in over 100 countries around the world.