China’s Zibo Qixiang 2011 profit rises 17.8% on strong sales

22 February 2012 07:45  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Zibo Qixiang Tengda Chemical has on Wednesday posted an increase of 17.8% year on year in its 2011 net profit because of strong sales and stable operations at its units.

The company posted a net profit of yuan (CNY) 609m ($97m) in 2011, it said in a statement to the Shenzhen Stock Exchange.

Its revenue increased by 13.3% year on year to CNY2.8bn last year, according to the statement.

Zibo Qixiang is a methyl tertiary butyl ether (MTBE), methyl ethyl ketone (MEK) and butadiene (BD) producer in Shandong province in east China.

($1 = CNY6.30)

By: Rachel Yang

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