China’s Befar Group 2011 net profit surges 80% to CNY608m

09 February 2012 05:47  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Befar Group, key caustic soda and propylene oxide (PO) producer, said on Thursday it has posted a 80.51% increase in net profit for the full year of 2011 to yuan (CNY) 608m ($97m) from CNY 337m in 2010.

The company’s revenue increased by 29.04% to CNY4.61bn last year from CNY 3.57bn in 2010, according to its statement to the Shanghai Stock Exchange.

The company attributed the sharp increase in net profit to good sales of its caustic soda and PO products and for stable operation of the units.

Befar Group produced a total of 430,300 tonnes of caustic soda and 201,800 tonnes of PO in 2011, the company added.

($1= CNY6.30)

By: Adele Zhu

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