Kreuz Holdings' net profit soared 49.0% to US$39.7m

Revenue also jumped 25.8% to US$193.4m.

According to a release, Kreuz Holdings Limited's net profit jumped 49.0% to US$39.7 million for the full year ended December 31, 2012 as compared to US$26.6 million in the previous corresponding period.

This was achieved on a 25.8% increase in revenue to US$193.4 million from US$153.8 million over the same period. 

The increase in revenue for FY2012 was driven mainly by higher revenue from related parties. As a result, in comparison to FY2011, gross profit increased significantly by 34.7% to US$63.6 million while profit before tax was up by 37.6% to US$47.9 million in FY2012, and gross profit margin for FY2012 was up 2.2 percentage points to 32.9%.

For 4Q2012, net profit increased by 430.1% to US$5.7 million notwithstanding a marginal 3.1% decline in revenue to US$38.1 million.