Hafei Aviation 2012 net profit up 5%

Singapore
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Hafei Aviation's net profit for 2012 rose by 5.2% to CNY116 million ($19 million), up from CNY110 million a year earlier.

Its operating revenue rose by 3.2% to CNY2.86 billion, while its operating profit increased by 14.3% year on year to CNY131 million, the company says in a Shanghai stock exchange filing.

Total profit for the year climbed by 7.5% to CNY133 million, it added.

Hafei Aviation, a subsidiary of state-owned Aviation Industry Corp of China (AVIC), manufactures light aircraft, helicopters and aerospace parts for Chinese companies. The firm also supplies components for Airbus's A320 and A350 programmes.