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China Southern Glass back in profit

China Southern Glass Co., the glass producer based in the southern city of Shenzhen reported a return to profit with net profit in the year ended 31 December, 2000 of 164.23 million yuan versus a net …

China Southern Glass Co., the glass producer based in the southern city of Shenzhen reported a return to profit with net profit in the year ended 31 December, 2000 of 164.23 million yuan versus a net loss in the previous year of 169.7 million yuan. Sales in 2000 were 1.12 billion yuan versus 977.66 million yuan in the year previous. Assets per share were 2.71 yuan versus 2.58 yuan in 1999. The results were published in a company statement in the China Securities newspaper on 8 April. The figures were audited under domestic accounting standards. Under international accounting standards, the company recorded a net profit of 189.36 million yuan (US$ 22.87 million) for 2000, against a net loss of 164.37 million yuan in1999. The company will pay a pretax cash dividend of 0.12 yuan per share in 2000. It paid no dividend in the previous year.

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