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Xi'an Aircraft profit surges 312%

By Xu Shenglan (chinadaily.com.cn)
Updated: 2009-03-03 17:59

Xi'an Aircraft International Corp recorded a more than 300 percent surge in 2008 earnings, according to its annual report released on Tuesday.

The Shenzhen-listed aviation manufacturer said its net profit for 2008 amounted to 389 million yuan ($56.87 million), up 312.75 percent from 2007, on sales of 9.36 billion yuan, an increase of 331.54 percent.

Xi'an Aircraft attributed its gains in 2008 to the country's ambitious plan to manufacture large jets, which has greatly benefited its aviation manufacturing business.