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China Shoto pre-tax profits up 117.1%

By BFN News | 02:03 PM | Wednesday 28 April, 2010

Full year pre-tax profits at industrial batteries and power supply systems producer China Shoto jumped 117.1% to £25.07m. Revenues for the year to the end of December increased 16.1% to £212.57m and net profits rose by 131.4% to £23.3m, excluding minority interests. The firm was granted 11 patents during the year, bringing the total number held to 126. Chairman Yang Shanji said: "With the recovery of the global economy, we are confident the development of overseas markets, especially in developing countries, will create and drive new demand for products from Chinese equipment suppliers. "In 2010, the group will accelerate the development of its overseas distribution networks and strengthen its sales push into international markets to maintain its growth momentum whilst continuing to deliver value to our shareholders." Story provided by Business Financial Newswire

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