China BCT revenues increase in Q2
China BCT has seen a revenue increase of 43 per cent.
China BCT has reported revenues of $47,492,718 for the second quarter ended 30 June 2010, an increase of 43 per cent, compared to $33,263,862 for the comparable period in 2009.
China BCT has posted a net income of $7,132,409, or $0.19 per diluted share, compared to net income of $5,271,227, or $0.16 per diluted share, for the comparable period in 2009.
Income from operations for the second quarter ended 30 June 2010 was $10,259,216, compared to $6,859,149 for the comparable period in 2009.
For the six months ended 30 June 2010, China BCT has posted a revenue of $81,521,596 compared to $65,606,254 for the year ago period.
For the six months ended 30 June 2010, China BCT net income was $11,376,574, or $0.30 per diluted share, compared to $10,277,996, or $0.32 per diluted share, for the year ago period.
Income from operations for the second quarter ended 30 June 2010 was $16,451,951, compared to $13,852,965 for the year ago period.
BCT Pharmacy Group chairman and CEO Hui Tian Tang said that they were pleased to report strong second quarter financial performance.
"The expansion of our distribution network in Guangxi Province contributed favourably to our solid 42.8 per cent year-over-year revenue growth this quarter," Tang said.
"Our exclusive three-year pharmaceutical distribution contract with Liujiang County Chinese Medicine Hospital dovetails well with our strategy of growing revenue while maintaining overall profitability levels. In the second half of 2010, as industry consolidation continues, we will pursue additional acquisition opportunities in China's fragmented retail pharmacy market."
China BCT is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine, Hefeng Pharmaceutical and Guangxi Liuzhou Baicaotang Medicine Retail in Guangxi province