The Aviation Industry Corp. of China(AVIC) reported a net profit of CNY12.2 billion ($1.94 billion) in 2011, up 18.8% over a net income of CNY10.3 billion in 2010. Operating revenue increased 23% to CNY258.1 billion, according to AVIC GM Lin Zuoming. Industry analysts said the “successful acquisitions of companies home and abroad” contributed to the improved results. In the past three years, AVIC has acquired 58 companies home and abroad, which increased operating revenue by ...

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