Sinopipe Holdings, the manufacturer of plastic pipes and pipe fittings, says it posted a 136.9% rise in net profit to RMB 5.4 million ($1.1 million) in for the three months and full year ended 31 December 2009 (4Q2009) from RMB 2.3 million recorded in 4Q2008.
Revenue for 4Q09 increased 10% to RMB 251.4 million from RMB 228.5 million. Gross profit, on the other hand, dipped by 6.2% from RMB 46.5 million in 4Q08 to RMB 43.6 million in 4Q09 while gross profit margin was lower at 17.3% in 4Q09, compared to 20.4% in 4Q08.
