|
|
Article: BAOJI TITANIUM PREDICTS H1 NET DOWN 50%
- Article from:
- AsiaInfo Services
- Article date:
- July 7, 2009
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
AsiaInfo Services
07-07-2009
Baoji Titanium Predicts H1 Net Down 50%
BAOJI, Jul 07, 2009 (SinoCast Daily Business Beat via COMTEX) -- Baoji Titanium Industry Co., Ltd. (SHSE: 600456), a pillar titanium mining and processing company in China, forecasts the net profits it will gained in the first half of 2009 would drop 50% or more from a year earlier.
The company attributes the withering earnings to global financial crisis and the cold macro-economic climate, which sharply reduced the demand for its flagship products and the selling prices. Both sales and gross profit margin plunged down, compared with those in the same period of 2008.
In line with initial estimates, the company predicts that ...