Asia – Hong Kong-based Nine Dragons Paper Holdings, the major containerboard producer and recovered fibre consumer, is anticipating a profit hike for the final six months of this year of ‘not less than 90% as compared to the corresponding period (in 2016) due to an increase in the selling price of the products and a better profit margin of the group’.
In the second half of 2016, the company made a profit of RMB 2002.2 million – just over US$ 304 million at the current rate of exchange.
This latest profit assessment has been relayed in a statement to shareholders and is based on a preliminary review of latest unaudited management accounts and other information currently available to the group if exchange losses on operating and financing activities net of tax are excluded.
Nine Dragons Paper Holdings’ interim results for the second half of 2017 are expected to be published by the end of February 2018.
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