China’s Wanhua Chemical H1 net profit up 56% on strong MDI sales

30 July 2013 08:10  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Wanhua Chemical Group reported on Tuesday a 56.3% year-on-year increase in its first-half net profit to yuan (CNY) 1.54bn ($251m), partly on higher sales volumes of methyl di-p-phenylene isocyanate (MDI).

Its operating revenue for January-June 2013 increased by 39.32% to CNY 9.98bn, the company, formerly known as Yantai Wanhua Polyurethanes Co, said in a filing to the Shanghai Stock Exchange.

The company also registered bigger margin between MDI and feedstock aniline during the six-month period, it said.

For the whole of 2013, the company is expecting higher revenues following completion of technical upgrade of its MDI plant in Ningbo on 29 July, it said.

The company’s name was changed in May 2013.

($1= CNY 6.13)

By: Dolly Wu
+65 6780 4359

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