11 October 2011 07:32 [Source: ICIS news]
SHANGHAI (ICIS)--China’s Cangzhou Dahua Group has posted a 70% year-on-year decrease in its net profit for the first three quarters of 2011, the company said in a statement on Tuesday.
The company’s net profit was down from the yuan (CNY) 85m ($13m) that was recorded in the same period a year ago, the company said. It did not disclose the exact figure of its net profit for the first three quarters of 2011.
“The net profit decreased largely because our urea output fell during the period, in line with a shutdown of a 580,000 tonne/year urea plant for maintenance for 22 days from 15 August,” a company source said.
Cangzhou Dahua, which is based in Cangzhou city of Hebei province, is a major fertilizer producer in northern China.
($1 = CNY6.35)
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|