China: Cangzhou Dahua Reported Sharp Growth in TDI Profit in H1, 2010

Chemical News: China: Cangzhou Dahua Reported Sharp Growth in TDI Profit in H1, 2010

https://www.chemnet.com Aug 12,2010
Hebei Cangzhou Dahua Co. Ltd. reported first-half 2010 results last Thursday. Operating revenue was up by 36% year-on-year to Rmb 1191 million while net profit rose to Rmb 62.12 million, up by 16% compared with the same period last year, with earning per share of Rmb 0.24.

In the first half of this year, production and sales volume of urea dropped by 10% while gross profit margin slipped by 5.83% year-on-year, mainly caused by 40-day failure of natural gas supply. It was predicted that sales conditions would be much better in the second half of this year, with slight uptick in prices.

Most of the company’s profit came from TDI products, which was the main reason for sharp rise in its first-half results. Output reached 36.9 thousand tons while gross profit margin was around 21.62%, up by 16% compared with the same period last year.

Besides, new 70kt/y TDI facility which was planned to start construction in January this year was predicted to put into operation in 2012. By that time, the company would probably become the leading enterprises in TDI industry with its TDI capacity expanded to 150kt/y.
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