Xinxing Pipes posts large net profit growth in 9 months
Wednesday, 21 Oct 2009
21st Century Business Herald reported that Xinxing Ductile Iron Pipes Co Ltd has achieved a large net profit growth in January to September mainly benefited from purchasing 40% shares of Wuhu Xinxing Pipes 40% etc.
According to the report, on October 19th Xinxing Pipes reported a net profit of CNY 0.338 billion up by 221.05%YoY in its Q3 earnings report. During January to September this year the company has gained total sales incomes and net profits of CNY 19.936 billion and CNY 0.81 billion respectively up by 25.16% and 63.68%YoY.
As predicted, Xinxing Pipes is going to obtain net growth of 50%YoY at more than CNY 0.85 billion in 2009 fiscal year.
