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Taihua

  • BY: Andrew Hore |
  • POSTED: 27/06/2008 |

Taihua increased its 2007 profits.

China-based Taihua supplies natural ingredients made from Chinese trees and plants. It raised £780,000 at 10p a share when it joined Aim on 14 December 2006.

Turnover increased from £3.45m to £4.71m in 2007, while profits increased from £1.98m to £2.61m. A maiden dividend of 0.25p a share was announced. Taihua is cash generative and there is cash in the bank and no debt.

Taihua wants to expand in Europe and is going through the process of gaining regulatory approvals for anti-cancer ingredient Paclitaxel. The company can get a better price in Europe than in China. It also has its own yew trees from which it extracts the basic materials for Paclitaxel but it also has outside suppliers. Paclitaxel is used in treatments for ovarian, breast, lung and skin cancer. Once EU approval is achieved Taihua will look at the US market.

The company is also registering more new traditional Chinese medicine products in China. It is also considering investing in increasing the capacity of its factory.

The shares rose 0.75p to 13.75p, valuing the company at £11.2m. Taihua raised £780,000 at 10p a share when it joined Aim on 14 December 2006.

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