AVIC's aviation business sees HK$541,000 profit in 2011

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AVIC International Holding's aviation-related business recorded a profit of Hong Kong dollars (HK$) 541,000 ($70,000) last year.

This is a turnaround from the HK$4 million loss the firm saw in 2010, AVIC said in a stock exchange statement.

The group sold 10 EC 120 helicopters in 2011, but this did not result in a turnover because of the overall loss incurred from the operations of the helicopter project, in which it shares the manufacturing and distribution rights.