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Shandong LUBACHEM profit up 85% in H1
Sep. 5, 2017
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China
|
-
|
H1 2017 (yuan)
|
H1 2016 (yuan)
|
Change （%）
|
|
Operating income
|
851,046,459.52
|
628,399,005.99
|
35.43
|
|
Net profit attributable to shareholders
|
115,581,722.26
|
62,548,825.56
|
84.79
|
The company says the increase in business income is a result of price rise of Paraquat and Pyridine, of which the price of Paraquat 42% mother liquid rose from the roughly Yuan13,000 per ton at the beginning of the year up to around Yuan20,000 per ton, which reflected an increase of about 58.82 percent. The increase in net profit was a result of price rise of products, such as Paraquat, Pyridine, 3-Methylpyridine and Diquat.
Furthermore, Shandong LUBACHEM holds the view that due to strict safe and environment compliance inspection in most of the provinces of China, as required by the Chinese government, some manufacturers have been shut down or suspended for correctional action, which was followed by a rebound in the pesticide industry.
Meanwhile, the Paraquat market has gone through a consolidation as led by industry leaders. For these reasons, the prices of Paraquat and Pyridine of the company have rebounded quite strongly. Therefore, the sales and profit of the company both rose to a certain degree during this report period.
Source: AgroNews
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