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Flag Chemical Industry spending above Yuan1 billion on cyhalofop-butyl extension and upgrade project
Mar. 28, 2019
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China
The announcement noted that after completion of the ten pesticide technical projects, the company expects to take in an average annual business income of Yuan 1.59955 billion, tax contributions of Yuan88.51 million and after-tax profits of Yuan265.52 million. Upon completion of the 5,700-ton pesticide technical project, the company expects to report an average annual business income of Yuan 3.1278171 billion, tax contribution of Yuan89.25 million and after-tax profit of Yuan267.7501 million.
The 2018 annual report of Flag Chemical Industry shows that its business income reached Yuan1.65 billion, which is 27.40% up year on year, and its net profit reached Yuan209 million, which is a 78.27% year on year increase, in which both business income and profitability increased substantially over last year. Flag Chemical Industry predicts that it will see a net profit between Yuan55 million and 65 million from 1st January to 31st March 2019, as attributable to its listed mother company, which will increase 62.91% - 92.52% year on year.
Source: AgroNews
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