Qian Hu Corporation, the integrated ornamental fish service provider, says its net profit attributable to shareholders for the second quarter ended 30 June 2010 declined by 42.9% to $950,000 on the back of a 4.1% dip in revenue to $22.7 million.

Qian Hu says sales of ornamental fish dropped 5.6% to $11.3 million due to widespread airport closures and flight cancellations in Europe from mid April to early May 2010 as a result of Icelandic volcanic ash over European air space, as well as the recent FIFA World Cup which dampened demand for ornamental fish exports. Drought conditions in Malaysia earlier in the year, as well as unstable weather conditions, also affected the production of Dragon Fish fry.

The company says its accessories business was also impacted by the political riots in Bangkok, which occurred from mid-March to mid-May. During this period, the group’s wholesale accessories activities, as well as its retail chain stores in Bangkok’s downtown area, ground to a halt during the violent demonstrations and curfews.

With the group’s Guangzhou factory experiencing lower export volume of accessories due to World Cup, revenue from the group’s accessories business declined by 6.3% to $8.6 million in the second quarter.

Sales from plastics activities, however, continued its steady rise, growing by 10.4% to $2.8 million, thanks to efforts in expanding customer base and product offerings.