Newly-listed Latitude Tree International Group, the manufacturer of quality lifestyle wooden home furniture, has reported a 126.4% surge in net profit from $5.1 million in HY2009 to $11.5 million for the six months ended December 31, 2009 (HY2010).

This manufacturer says this was driven mainly by a 15.0% increase in revenue to $77.7 million in HY2010, as compared to that in HY2009, higher sales of better margin products, improved production efficiency and lower per unit factory costs and raw material costs.

The group’s revenue increased mainly due to increase in production output of the second factory in Vietnam, the increase in orders from pent-up demand of furniture and sales from the broadening of the group’s product range.

Overall, the group’s cash and cash equivalents increased by $19 million to $28 million as at December 31, 2009.

Latitude Tree has declared an interim, tax-exempt dividend of 1.8 cent per ordinary share, representing a dividend yield of 13% based on closing price of 27 cents as at February 9, 2010.