Legend Holdings sees 30% net profit growth

Legend Holdings, an IT, investment and real estate conglomerate in China, has recorded a 30 percent increase in net profits, according to its 2012 annual report released on chinabond.com last weekend, Beijing Times reported.

The report shows that Legend earned 226.6 billion yuan ($36.62 billion) in operational income, up 19.8 percent from 2011. The net profits for the parent company shareholders stood at 1.7 billion yuan, up 30 percent from the previous year.

The conglomerate completed several M&As in IT, rice wine, chemistry, mining and agricultural industries last year, which catapulted the company's annual operational income to more than 200 billion yuan.

Its net profits have grown from 480 million yuan in 2008 to 1.33 billion yuan in 2011.

Liu Chuanzhi, CEO of the company, with a 3.4 percent shareholding is the biggest individual shareholder.