The AIM-quoted environmental technology group posted pretax profit of
Auhua, which is engaged in the production and sale of solar-powered and sale of water heater system, attributed the improvement in profit and revenue to an increase in product sales during the year. It said 77,000 units of its heater system was sold, compared with 73,000 units a year earlier.
On the back of its strong performance the company declared a maiden dividend of
The company, which has operations in
Auhua said the Ziolar acquisition will significantly broaden its technical capability with the integration of its state-of-the-art thermal panel technology, a vital component in solar powered water heater systems.
The acquisition also will mark the start of its international expansion strategy outside of
At the period-end cash and cash equivalents rose to
"Auhua has delivered a solid set of results in a transformational year; this dividend reflects our accomplishments and is a thank you to our committed shareholders," Non-Executive Chairman
"Our results were underpinned by continuous progress in ensuring our products and technologies remain at the forefront of innovation, thereby affirming our market leadership in split-unit solar water heaters in
Auhua shares were quoted up 3.5% at
Most Popular Stories
- Stop-Start Engines Save Gas, Reduce Emissions
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- World Tensions Don't Curb Enthusiasm for Stocks
- U.K. Economy Surpasses Pre-Crisis Peak
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges
- Ricky Martin Joins 'The Voice ... Mexico'
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Visa, Amazon Results Drag Down the Street