China’s Tangshan Sanyou Chem '08 net profit falls 37.45%

16 February 2009 07:45  [Source: ICIS news]

SHANGHAI (ICIS news)--China-listed soda ash producer Tangshan SanYou Chemical Industries Co's 2008 net profit plunged 37.45% year-on-year to yuan (CNY)206m ($30.2m) due to sharp falls in product.prices in the second half of the year, the company said in a disclosure to the Shanghai Stock Exchange on Monday.

Operating profit declined to CNY285.51m last year from CNY473.95m in 2007, it said.

The company located in Hebei province in northern China has a nameplate capacity of 1.5m tonnes/year soda ash, the company said on its website.

($1 = CNY6.83)

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By: Judith Wang
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