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Lier Chemical reports 115.27% jump in profit in Q3qrcode

Oct. 31, 2017

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Oct. 31, 2017

Lier Chemical reports 115.27% jump in profit in Q3

Lier Chemical recently released its 2017 Third Quarter Report, which revealed business income of Yuan725 million, up 48.95 percent year-on-year (y-o-y) and net profit attributable to shareholders of Yuan79.568 million, up 115.27 percent y-o-y.
 
In the first three quarters of 2017, Lier Chemical achieved total business income of Yuan1.943 billion, reflecting a 38.36 percent jump y-o-y and net profit attributable to shareholders of Yuan229 million, indicating a y-o-y surge of 69.65 percent.
 
-
2017 Q3yuan
Change%
2017 Q1-Q3  yuan
Change%
Operating Income
724,549,046.42
48.95
1,943,434,093.83
38.36
Net Income Attributable to Shareholders
79,568,043.01
115.27
228,924,703.14
69.65

Lier Chemical expects to report an annual net profit of Yuan292 to 354 million attributable to shareholders, which will be 40 to 70 percent increases y-o-y. The announcement pointed out that the achieved performance was due to a good market for the company’s major products and a commissioned capacity of 5,000-ton Glufosinate technical project, which ensures supplies to the market.
 
On an earlier date, Lier Chemical had issued an announcement to raise Yuan852 million to build a 10,000-ton glufosinate technical production line. The 2017 Third Quarter Report added that this project is currently still under examination and awaiting approval by Chinese state-owned assets’ Supervision and Administration Department. 
 
If the project goes smoothly, the Glufosinate technical capacity of Lier Chemical will grow from the present annual 5,000 tons to annual 15,000 tons, which will be a significant increase in Glufosinate capacity. Its largest Glufosinate capacity status in China will be reinforced. 
 
Source: AgroNews

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