25 January 2013 03:21 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Cangzhou Dahua expects its net profit from January to December 2012 to increase by more than 300% year on year, according to a company statement released on Shanghai Stock Exchange on Friday.
The company’s net profit was yuan (CNY) 70m ($11m) in 2011, the statement added.
Its net profit will increase in 2012 because the prices of the company’s products increased in the year, the statement said.
Its revenue in the first quarter of 2013 is expected to decline year on year because the company’s urea and nitric acid production has been suspended in line with a halt in feedstock natural gas supply from PetroChina’s north China branch since 24 December 2012.
($1 = CNY6.22)
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