China: Yantai Spandex Reports Sharp Increase in H1 Profit

Chemical News: China: Yantai Spandex Reports Sharp Increase in H1 Profit

https://www.chemnet.com Jul 20,2010
As a Chinese pioneer company in the industry of special fiber, Yantai Spandex reported sharp gains in first-half profit.

Spandex price increased continuously since second quarter of last year, thanks to the recovery at downstream textile industry. Meanwhile, meta-aramid production also increased significantly on the recovery at global market. For the period ended June, the company’s operating revenue increased by 37.41% while operating profit gained 487.36% over the same period of last year. Net profit attributed to equity holders of listed company rose by 390.50% while earnings per share up 400% year on year.
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