Vehicle part maker Midsouth Q1 profit up 19%

air conditioner pipes Singapore-listed Midsouth Holdings Ltd, a maker of fiberglass-reinforced plastic (FRP) products,

said its first quarter net profit rose 19.3 pct from a year earlier to 33.6 mln yuan, supported by strong sales of vehicle

parts. Revenue grew 26.3 pct to 145.6 mln yuan. Sales of vehicle parts, which accounted for about half of the company's

revenue increase, rose 30.9 pct to 60.3 mln yuan. Earnings per share were 0.102 yuan, versus 0.85 in the first quarter of

last year. The company plans to expand its manufacturing capacity for water pipes and air-conditioner ventilation systems.

"We remain optimistic about the sales momentum of our FRP products as our product portfolio is catering to China's

infrastructure development and property sectors," said chief executive Gao Yan Hua. "We will also intensify efforts to

develop our client base further to include potential customers that can substitute FRP-based materials for their

applications," Gao said. Midsouth shares closed up 0.7 pct at 0.700 sgd. (1 usd = 1.36 sgd)