China’s Hengyi Petrochemical posts 26% decrease in Q1 net profit

26 April 2012 09:15  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Hengyi Petrochemical has posted a 25.84% year-on-year decrease in its net profit for the first quarter of 2012 to yuan (CNY) 449m ($71.2m), the company said in a statement to the Shenzhen Stock Exchange on Thursday.

The company’s operating income increased by 31% year on year to CNY8.1bn in the first quarter, according to the statement.

The statement added that the company's operating income increased because of the expansion in production capacities and sales at its subsidiaries, Ningbo Yisheng and Shanghai Hengyi.

 ($1= CNY 6.31)

By: Dolly Wu
+65 6780 4359

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