China’s Liaoning Huajin Tongda posts a CNY82m loss for Q1 ‘13

22 April 2013 07:57  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Liaoning Huajin Tongda Chemicals swung to a loss of yuan (CNY) 82m ($13m) in the first quarter of this year from its CNY172m net profit in the same period in 2012, the producer said on Monday.

The company suffered the large loss in the quarter ended March, because of high feedstock cost and sluggish petrochemical sales, especially in the polyolefin sector, according to the statement it filed to Shenzhen Stock Exchange.

The company added that it expects to post a loss for the first half of 2013, because of weak demand in all petrochemical markets.

However, the producer said it should record a net profit from the fertilizer sector on the back of improved demand.

($1= CNY 6.18)


By: Dolly Wu
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly