Nine Dragons Paper expects 2H 2008 net profit down substantially
Jan 14, 2009. /Lesprom.com/. Nine Dragons Paper expects its net profit for July-December 2008, its fiscal first-half, to fall substantially from a year earlier. The company's net profit for the July-December period in 2007 was CNY1.06 billion (approx. $155 million).
Jan 14, 2009. /Lesprom.com/. Nine Dragons Paper expects its net profit for July-December 2008, its fiscal first-half, to fall substantially from a year earlier, the company said in a statement received by Lesprom Network.
Nine Dragons Paper, China's largest containerboard maker by output, said the fall is due to the substantial decrease in the selling prices of products and rising costs of raw materials. The company's net profit for the July-December period in 2007 was CNY1.06 billion (approx. $155 million).