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news.China BCT Pharmacy Group, engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries, has reported sales revenue of $58.6m for the first quarter ended 31 March 2011, an increase of 72.2%, compared to $34.03m for the same period in 2010.
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China BCT’s net income was $6.25m, or $0.16 per diluted share, compared to net income of $4.24m, or $0.00 per diluted share, for the comparable period last year.
Income from operations was $8.63m, compared to $6.19m for the same period in 2010.
Gross profit was $13.61m, as compared to $8.86m for the same period prior year.
China BCT chairman and CEO Hui Tian Tang said in the first quarter of 2011, they achieved revenue growth across all three of their business segments, led by pharmaceutical distribution, while growing net income 47% on a year-over-year basis.
"We are on track to begin construction of an advanced wholesale distribution logistics center this year. We believe this modern center and our improved distribution capabilities will help further distinguish China BCT from the competition during future bidding processes," Tang said.