Lier Chemical: net profit +60.1% YoY to USD36.5 million in H1 2020

Date:08-25-2020

Lier Chemical Co., Ltd. (Lier Chemical, the largest glufosinate-ammonium manufacturer in China) released the H1 2020 financial report. During this period, the company made revenue of USD335.7 million, up by 14.4% year on year, and net profit of USD36.5 million, up by 60.1% year on year.

“Such beyond-expectation financial figures are a result of the increased price of our main product glufosinate-ammonium and the total decreased cost” stated Lier Chemical.

* Increased price of glufosinate-ammonium: As of July 2020, the domestic quoted price of premium marketed glufosinate-ammonium was USD21,435-22,149/t, and the actual transaction price was USD21,435/t, up by about 40% over that in early this year.

* Total decreased cost: In H1, the company enhanced the control over cost; thus, the expenses of marketing, administration, etc. declined year on year.