Chinese paper producer Shanying Paper's operational income in H1 up 45% year-over-year to US$258.1M, while paper output surges 25.5%
July 26, 2010
– In first-half 2010, Shanying Paper Industry Co. posted 1.75 billion yuan (US$258.1 million) of operational income, jumping 45.0% year-over-year. Earnings in the first six months totaled 67.6 million yuan and net profit from the core business was 50.6 million yuan, the company reported on July 20.
The company, based in the Chinese province of Anhui, produced 463,600 tonnes of paper and 261 million square meters of kraft paper and corrugated boxes during January-June 2010, surging 25.5% and 31.2%, respectively, year-over-year.
Shanying Paper said that its performance was good in the first half due to new capacity from its paper expansions coming quickly to the market and all of its paper machines running full out as sales of paper products surged.
In addition, improved economies worldwide help to boost sale prices and sales volume, and sale price hikes exceeded raw material cost increases, resulting in a dramatic rise in gross profit for the company.