China Medical System Hldgs: 2008 Pretax Profit +89% On Year

Company News

LONDON(Dow Jones)–Chinese pharmaceutical sales company China Medical System Holdings Ltd. (CMSH.LN) Wednesday posted a 89% rise in full-year 2008 pretax profit and raised its final dividend.

For the year ended Dec.31, pretax profit increased to $19.5 million from $10.3 million in 2007.

Revenue rose to $72.6 million from $51.7 million.

China Medical said sales of its four drugs increased by as much as 50% year-on-year.

Sales of its Stulln Mono eye drops rose 47% while sales of its primary liver cancer drug GanFuLe increased 50%.

The company said it is recommending a final dividend of 10 cents a share, taking the total for the year to 15 cents – a 50% increase on last year‘s dividend.

(END) Dow Jones Newswires
May 13, 2009 03:08 ET(07:08 GMT)