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Hengtong Optic-Electric's Q1 Profit Nearly Doubles as Revenue Climbs 34%

-- Hengtong Optic-Electric's (SHA:600487) net profit attributable to shareholders in the first quarter surged 98.5% year on year to 1.11 billion yuan from 556.8 million yuan, according to a Shanghai bourse filing over the weekend.

Earnings per share increased to 0.4563 yuan from 0.2298 yuan.

Revenue climbed 34% year on year to 17.8 billion yuan from 13.3 billion yuan, the Chinese fiber optic cable manufacturer said, attributing the growth to increased demand and prices in the optical communication market.

Hengtong also cited increased deliveries of marine communication and energy products and growing demand in overseas markets among the factors for the improved performance.

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