Monday, March 31, 2008

Sales of Nine Dragon hits RMB 6.7 bln in 2007

Nine Dragons Paper (Holdings) Limited<2689>, the largest maker of containerboard in Asia, has realized sales of RMB 6.7 billion in 2007, representing a growth of 44.2% over the previous year, said the papermaker in its annual report to Hong Kong Stock Exchange.

In the annual report, its gross profit amounted to nearly RMB 1.6 billion by the end of 2007, up 30.9% year-on-year. Net profit 2007 increased by 11.4% year-on-year to exceed RMB 1 billion, while earnings per share hit RMB 0.25, up 8.7% year-on-year. The interim dividend is supposed to be RMB 0.0168 per share.

Due to the rising costs, the company's net profit margin dropped 4.6% year-on-year to 15.8% in 2007. The papermaker has raised its designed yearly production capacity to 5.35 million tons by the end of 2007, in a bid to achieve further economies of scale and to strengthen the cost competitiveness.

No comments:

Enter your email address:

Delivered by FeedBurner