Others News
- Fuyao profit may rise over 50%
Date: 27-Mar-2007 Sources: (Shenzhen Daily)
FUYAO Group Glass Industries Co., in which Goldman Sachs is buying a stake, said yesterday its net profit would likely rise more than 50 percent year on year in the first quarter.
The Shanghai-listed company said in a statement that the expected earnings increase was fueled by sharply higher exports, returns from new projects as well as technological upgrade. The company reported a net profit of 96 million yuan (US$12.42 million) for the first quarter of 2006.
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