China Southern Glass Holdings Co., Ltd., recently announced a 26% fall in net profits for the first half of 1997. The company recorded net profits of Rmb 52.09 million (US$ 6.28 million), down from Rm…
China Southern Glass Holdings Co., Ltd., recently announced a 26% fall in net profits for the first half of 1997. The company recorded net profits of Rmb 52.09 million (US$ 6.28 million), down from Rmb 70.16 million in the same period last year. Turnover fell to about Rmb 322 million in the first half, down from Rmb 344 million in the first six months of 1996. Earnings per share were Rmb 0.103 over the period. Southern Glass blamed the drop mainly on poor results in earnings by subsidiaries involved in the property market, and on strong competition in the glass market.