China Medical Systems 2007 pretax profit nearly doubles; current year in line

Company News

LONDON (Thomson Financial) – China Medical Systems Holdings Ltd reported a full year pretax profit that nearly doubled from last year, and said the start of the current year has been in line with its expectations.

For the year ended Dec. 31, the company said pretax profit nearly doubled to $10.35 million from $5.38 million last year, as revenues rose 38 percent to $51.7 million due to sales growth for its existing products and new in-licensed products.

In 2008, the company expects further sales growth in its distribution and trading business, derived from the revenue of its existing product portfolio, and its new products.

China Medical declared a maiden final dividend of $0.07 per share and special dividend of $0.03 per share.