China Shoto powers ahead with interim profit boost
Wednesday, September 17, 2008
Solid international sales and growing demand from Chinese mobile telecoms operators helped power a 29% first-half after-tax profits increase for AIM-quoted China Shoto, one of China’s main producers of back-up lead acid batteries.
After-tax profits for the six months to June 30 rose to £3.9 million on sales up 81% to £68.6 million. Basic earnings per share climbed 44% to 16.3p per share.
The board declared an interim dividend of 1.5p per share.
China Shoto makes back-up batteries used to power transmitters for China’s booming mobile telecommunications market, as well as rechargeable battery packs for the country’s growing legion of environmentally-friendly electric bicycles.
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