Tianjin Zhong Xin Pharmaceutical Group says the net profit after tax attributable to equity holders in FY2009 was RMB 270 million ($55.3 million), an increase of 48%, from the corresponding period in FY2008.

Group turnover in FY09 was RMB 2,881 million, an increase of 22% from RMB2,365 million in FY2008. Disregarding the effect of the reduced sales caused by the dilution and disposal of investment in Tianjin Zhongxin Pharmaceutical Guowei Medicine Co. and Tianjin Pharmaceutical Group Chain Co., the group’s sales revenue increased by RMB 655 million, or 30%, over last year.

This was attributable to the increase of sales volume of the group’s key products, and sales revenue to the healthcare enterprises from the commercial enterprises owned by the group.

Gross margin rate increased from 36.93% in FY08 to 37.54% in FY09 mainly due to the significant increase in the sales volume of manufactured products.