China’s Befar Group 2012 net profit drops 40% to $59m

01 March 2013 07:54  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Befar Group, a key caustic soda and propylene oxide (PO) producer, said on Friday it has posted a 40% decrease in net profit for the full year of 2012 to yuan (CNY) 366m ($59m) from CNY609m in 2011.

The company’s revenue fell by 8.7% to CNY4.2bn last year from CNY4.6bn in 2011, according to its statement to the Shanghai Stock Exchange.

The decline in net profit mainly comes from falling caustic soda prices amid the global economy slowdowns, the company said.

However, the company’s performance was relatively better than other companies in the chlor-alkali industry, it added.

Befar Group produced 453,100 tonnes of caustic soda and 218,300 tonnes of PO in 2012, according to the company. It expects to produce 452,000 tonnes of caustic soda and 222,000 tonnes of PO in 2013.

($1 = CNY6.23)

By: Viola Pan
+65 6780 4359

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