Others News
- Sany Heavy profit may more than triple
Date: 13-Jul-2007 Sources: (Shenzhen Daily)
SANY Heavy Industry Co., China's biggest maker of pumps for concrete, said Thursday first-half profit probably more than tripled, helped by rising sales at home and overseas and by a new accounting policy.
Net income totaled 242.4 million yuan (US$32 million) in the first half of last year, the Shanghai-listed company said. Sany Heavy also said it received approval from the securities regulator to sell as many as 50 million additional shares in a private placement. The company said May 23 that it had won preliminary regulatory approval to sell the shares to fund the acquisition of a Beijing-based affiliate.
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