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          BIZCHINA> Top Biz News

          


          

          
          		

          

          


          

          


          

          



          

          


 

          


          


 

          


          

          


 

          



          Appliance maker Little Swan sees profit dive 88% in 2008
          


          By Zheng Lifei (chinadaily.com.cn)
          
 Updated: 2009-03-06 16:24
          



 

          

          Chinese washing machine maker Wuxi Little Swan posted an 88 percent drop in its net profits in 2008, battered by rising raw material costs and slack demand.
          


          

          

          


          


          


          


          


          


          


          Related readings:
          
          Appliance maker Little Swan sees profit dive 88% in 2008 Midea buys 24% Little Swan stake
          
          Appliance maker Little Swan sees profit dive 88% in 2008 Suning's net profit up 48% in 2008
          
Appliance maker Little Swan sees profit dive 88% in 2008 China's home appliance industry slows in 2008
          
          Appliance maker Little Swan sees profit dive 88% in 2008 China promotes home appliance subsidy program in rural areas
          
          		

          
          

          
          		

          
          

          
          		

          
          

          

Its net profits declined to 40 million yuan in 2008, on sales of 4.29 billion yuan, a 14 percent slump from a year earlier, the Shenzhen-listed company said on Friday in a stock exchange filing.
          


          This is the first time that Little Swan has reported its full-year earnings since being acquired by China’s second-biggest appliance maker GD Midea last year.
          


          Shares of Little Swan, which also produces refrigerators, declined 3.39 percent to close at 5.99 yuan on Friday.
          


          

          (For more biz stories, please visit Industries)
          

          

          

 



 



          


          


 

          

          

          


          

          


 

          


          


 

          


          


 

          


          


          


 

          

          

          
          		

          

          








           
          


           
          



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