Mainboard-listed Techcomp (Holdings), the China-based manufacturer and distributor for analytical and life science instruments, says profit attributable to shareholders rose 4.5% year-on-year to US$1.48 million ($2 million) for the six months ended 30 June 2010 (1H2010).

Revenue increased 28.7% y-o-y to US$51.2 million in 1H2010 mainly due to organic growth in China and other Asian markets, as well as the added contributions from its new subsidiaries in Europe. The new subsidiaries, namely HCC Group and Precisa Gravimetrics, were acquired in 2H2009 and early 2010 respectively.

Techcomp says the group’s gross profit growth outpaced its sales growth and increased 35.2% y-o-y to US$15.0 million in 1H2010. This was mainly due to an increase in the group’s manufacturing business which generally commands higher margins than its distribution business. Consequently, the group’s gross profit margin improved from 28.0% in 1H2009 to 29.4% in 1H2010.