China’s Befar Group H1 net profit falls 43% as product prices dip

24 July 2012 06:55  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Befar Group Ltd posted a 43% year-on-year decline in its first-half 2012 net profit to yuan (CNY) 200m ($31m) on weak demand and lower prices of propylene oxide and trichloroethylene, the company said on Tuesday.

Its revenue for the first six months of the year declined 9% to CNY2.12bn, Befar said in a filing to the Shanghai Stock Exchange.

The company’s operating profit for the period was down 43% to CNY 277m, it added.

Befar Group is major producer of propylene oxide, trichloroethylene and a leading producer of caustic soda in China.

The company is headquartered at Binzhou city in Shandong province.

($1= CNY 6.39)

By: Dolly Wu
+65 6780 4359

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