Shenzhen Fuanna Bedding and Furnishing Co., Ltd. <002327>, 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.

Source: China Textile Leader