Fuanna Bedding and Furnishing's net profit up 45.63 percent in 2010

Shenzhen Fuanna Bedding and Furnishing Co. Ltd.,China's indigenous company engaging in the manufacture and distribution of home textile products, recently announced that it reaped 125 million CNY in net profit in 2010, surging 45.63 percent year-on-year.

In 2010, the company realized a turnover of 1.07 billion CNY, reflecting an increase of 34.86 percent year-on-year, and earnings per share were 0.93 CNY.

The company attributed the growth in performance to the increased sales and gross profit, as well as the steady expense ratios.

Fuanna´s EPS are expected to reach 1.26 CNY this year, and its gross profit margin and profit rate will show a steady increase, due to the increase in the prices of spring and summer products, said analysts from Shenyin & Wanguo Securities Co Ltd.