The increase in sales revenue resulted from the increase of the company’s sales volume and selling prices.
Net profit for fiscal 2010 was $3.2m or 0.17 per share as compared to a net loss of $2.66m or $0.14 per share for fiscal 2009.
Shengtai Pharma CEO Qingtai Liu said that during the past year they increased production of pharmaceutical grade glucose products, in particular dextrose monohydrate.
“Dextrose monohydrate is one of the five most important medical prescriptions in the PRC and one of the most widely used pharmaceutical products for restorative and nutritional purposes. Our cornstarch production capacity has been enhanced to 300,000 tons a year,” Liu said.
“Our glucose facility allows us to use self-produced cornstarch to produce glucose and to be able to ensure the adequacy and quality of the cornstarch we use.
“We are currently applying new production technology to recycling of our waste water and byproducts. At the same time, we are improving overall production efficiency by analysing and ameliorating inefficient production processes.”