Hongdu Aviation net profit up 5% in 2012

Singapore
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Hongdu Aviation Industry posted a 5.1% increase in its 2012 net profit to yuan (CNY) 87.6 million ($14.1 million).

Total revenue rose by 22.4% to CNY2.23 billion, while total operating costs increased by 21% to CNY2.16 billion, the firm says in a Shanghai stock exchange filing.

Total profit was up 1.1% to CNY102 million, while operating profit rose by 44.4% to CNY102 million, up from CNY70.4 million.

Hongdu Aviation, a subsidiary of state-owned Aviation Industry Corp of China (AVIC), manufactures military aircraft and helicopters.

It is also a supplier for Comac, which is responsible for the C919 and ARJ21 passenger aircraft programmes.