Packaging machinery manufacturer China Wonder grew its profits in 2007.
They rose from £214,000 to £312,000 on revenues that more than doubled from £1.06m to £2.34m.
In 2007 China Wonder bought a Chinese engineering business and started a mouldings business, in which it has a 75% stake, although that didn’t contribute to profits until 2008. The packaging machinery business grew its sales by 7% in 2007.
The vast majority of sales are in China although some equipment is exported.
At 11.5p a share, China Wonder is valued at £2.07m. It had net cash of £471,000 at ten end of 2007. The shares were introduced on 1 October 2004 at 24p a share.
Management expects 2008 to be a “year of significant growth”.
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