China Fiberglass: surge in Q1 earnings

According to a recent filing, China Fiberglass has forecast that its first quarter net profit may have grown more than 200% from the CNY 16.61 million earned in the first quarter of 2010. This growth …

According to a recent filing, China Fiberglass has forecast that its first quarter net profit may have grown more than 200% from the CNY 16.61 million earned in the first quarter of 2010. This growth is attributed to greater sales volume and higher selling prices of fiberglass products. According to a research report on China Fiberglass, the company“s fiberglass production capacity totals 935,000 tons a year and accounts for 20% of global fiberglass production capacity.