Fosun set for 'substantial increase' in profit
Conglomerate Fosun International (0656) has posted a positive profit alert, saying net profit for the six months ended June 30 will substantially increase in comparison with that for the same period a year ago.
It attributed the performance to the high profit contribution from its pharmaceuticals, steel and mining businesses. First-half profit last year rose 99 percent to 826.6 million yuan (HK$944.3 million).
Fosun also said its Shanghai-listed subsidiary Shanghai Fosun Pharmaceutical will report a more than 100 percent increase in net profit for the six months ended June. Its net profit for the same period last year was 202.6 million yuan.
The company said it will announce interim results in due course.