SH Maling Aquarius’ profits up 85%

Shanghai Maling Aquarius Co Ltd, a producer of canned meat, reported annual net profit of 149.78 million yuan ($23.67 million) in 2011, up 85 percent year-on-year, on revenue of 5.73 billion yuan, according to the company's annual report issued Thursday.

The company plans to distribute dividends of 0.5 yuan per share and offer five new shares for every 10 shares held.

In December of 2011, the company finished a private share placement and subsequently transformed itself into an integrated food manufacturing enterprise focused on meat processing.