Jiangshan Agrochemical & Chemicals Returns To Profit In 2010

Date:02-24-2011

Nantong Jiangshan Agrochemical & Chemicals (600389) returned to profit in 2010, generating 30.78 million yuan in net profit, reports 163.com, citing a company filing.

Sales revenue in 2010 fell 14.83 percent year-on-year to 1.98 billion yuan, with earnings per share (EPS) of 0.155 yuan.

Jiangshan Agrochemical & Chemicals posted an 80 million yuan loss in 2009 and a 60 million yuan loss in the first three quarters of 2010.

Since the company would be placed into special treatment category if it reported losses in 2010, the local government allocated subsidies of 140 million yuan to the company in January that year.