GRG Banking reports a 68.18% increase in net profit

GRG Banking reports a 68.18% increase in net profit
Tags: GRG Banking Equipment Co., Ltd, Public Companies
November 20, 2007

GUANGZHOU, China - GRG Banking Equipment Co., Ltd has a 68.18 percent increase in net profit, compared with the same season last year, according to its fiscal season report by GRG on Oct. 27, 2007.

The company got its IPO on Aug. 13 this year at the Shenzhen Stock Exchange, and the fiscal report released last week was its first report after its IPO.

In this report, the EBTIA increased to RMB164.2 million ($21.9 million U.S.) during July - Sept. 2007, a 121.62 percent increase from Sept. 2006.

GRG says the growth was driven by strong gains from China's major national banks, Bank of China and Agricultural Bank of China; and also the outside China market, in areas such as Asia-Pacific, Middle East and Africa.