China Animal Healthcare posted a 14% increase in revenue on-year to RMB 131.3 million for the first quarter ended March 31, 2011. Net profit for the quarter was up almost 60% to RMB 58.3 million, from RMB36.6 million a year ago. China Animal Healthcare said the increase in revenue was due to the surge in sales of bilogical drugs.
Management said that it has commenced commercial production of animal foot-and-mouth disease. Also, it has said that it has obtained indicative orders of close to RMB 90 million in total, for compulsory vaccine sales. They are expected to be delivered in the next 6-12 months.
China Animal Healthcare's stock is closed $0.31 on Thursday.