May 14, 2012 / 12:52 PM / in 5 years

UPDATE 1-Hanfeng profit rises on higher production, margins

May 14 (Reuters) - Chinese fertilizer maker Hanfeng Evergreen Inc reported a slight rise in quarterly profit, helped by increased production and higher margins.

First-quarter net income rose to C$8.4 million, or 14 Canadian cents per share, from C$8.2 million, or 13 Canadian cents per share, a year earlier.

Sales rose 16 percent to C$98.8 million.

Hanfeng’s shares, which have fallen 17 percent so far this year, closed at C$2.45 on Friday on the Toronto Stock Exchange.

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