China Green's net profit for the 2006 financial year surged 47.9% to CNY271.28m (US$34.07), with the green foods and fresh produce company attributing its success to the development of overseas and local markets and new product innovation.

Annual turnover increased by 45.9%, to CNY686.6m compared to the previous year, and gross profit was CNY354.42m, up by 39.2% over last year.

China Green chairman Sun Shao Feng said, "Looking back on the past year, China Green's business saw rapid development. To sum up, we further consolidated and defined our targets for the group's future growth."

Green's earnings per share stood at CNY271.28m, an increase of 47.9% over the last corresponding period.

"Looking ahead, the group will face an increasing number of opportunities. Consumers are becoming increasingly aware of heath issues and we anticipate that demand for health foods and green foods in China as well as the world at large will continue to rise. As China Green's brand value and awareness continues to increase, the group will further strengthen and assume a leading status in China's green food industry," added Shao Feng.