Hong Kong-based Vinda International posts 25% year-over-year growth in profit to 1.7 million yuan in H1
September 3, 2010
– Vinda International Holdings Ltd., a Chinese sanitary papers producer headquartered in Hong Kong, posted 1.682 billion yuan (US$247.3 million) of profit in the first half of 2010, surging 25% year-over-year.
During the period, the company’s gross profit of 538 million yuan was up 26% compared with first-half 2009, while net profit rose 10.1% to 198 million yuan. During the first six months, the gross profit ratio was relatively flat at 32.0% from 31.9% a year earlier.
Pressures on the company caused by pulp price hikes have eased recently, with analysts forecasting that the price surge in pulp has come to an end. Pulp prices have inched down recently in China’s domestic market and were slowing down in international markets. Although pulp prices might change in the near term, the change was expected to be below peak levels.