Posted Tuesday, April 22, 2008, 1:41 p.m., EST

Revenues for the quarter grew 4.7 percent to about $17 million from about $16.2 million in the year-ago period.

The company saw its accessories business grow 6.4 percent to about $6.5 million and its ornamental fish business, particularly dragon fish, grow 5.9 percent to about $8.6 million for the quarter. Sales for its plastic bag business declined 5.3 percent to about $1.9 million for the quarter.

Operating profits for accessories climbed 146 percent to about $330 million for the quarter and fish operating profits climbed 28 percent to about $1.7 million.

“Whilst we are pleased that our ornamental fish performance continued to contribute strongly to our group’s profitability, we are particularly pleased with the heightened profitability of our accessories business, boosted by our conscientious effort to gradually revive our accessories business margin back to a respectable level with its higher export volume,” said Qian Hu executive chairman and managing director Kenny Yap. “Going forward, we expect our accessories business to contribute to a faster pace of growth in profit margin.”

The company also noted that overseas revenues grew 7 percent for the quarter while domestic (Singapore) revenues were flat.

For its first quarter, Qian Hu saw about $4.9 million of sales from Singapore, about $7.3 million from other Asian countries, about $3.3 million from Europe and about $1.6 million from other markets. <HOME>