China Fish - Record Profit in 2Q

China Fish today reported results for 2Q07 and 1H07, here are the highlights:

1. Revenue for 1H07 increased 184% to 232.4M. Revenue for 2Q07 increased 233% compare to 2Q06.

2. EPS for 1H07 increased 43% to 6.54 UScent. EPS for 2Q07 increased 64% compare to 2Q06.

3. Company proposes interim dividend of 3.29 Sin cents per share; this is a 51% increase compare to 1H06.

4. The Group acheived net profit after tax of U$50.6m in 1H07, which is already exceeds the full-year profit of U$48m acheived in FY2006.

5. MD Mr Ng Joo Siang "The Group has continue to deliver the anticipated revenue and earnings-accretive benefits of our recent expansion initiatives. Our new VOAs have delivered solid earnings contribution while the benefits from our investment in Peru accrue over the longer term".

6. With increasing demand and limited supply, China Fish is continually assessing new fishing grounds that can provide additional revenue for the Group. Using Peru as a base, plans to develop the Group's trawling operations in South Pacific Ocean are proceeding as planned.

For those who invested in China Fish, Congrats!

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