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Shanghai Yaohua Pilkington reports higher profit

Chinese glassmaker Shanghai Yaohua Pilkington Glass Co. reported pretax profits for the year ended 31 December 2000 of yuan 185,262,091 (US$ 22.37 million) versus yuan 109,277,854 the year before. Net…

Chinese glassmaker Shanghai Yaohua Pilkington Glass Co. reported pretax profits for the year ended 31 December 2000 of yuan 185,262,091 (US$ 22.37 million) versus yuan 109,277,854 the year before. Net profit was yuan 154,621,227 versus yuan 94,185,705 in 1999. Earnings per share were yuan 0.32 versus yuan 0.19 the year before. The figures were audited under domestic accounting standards. Under international accounting standards, the company recorded a net profit of yuan 158.39 million (US$19.12 million) in 2000 against yuan 92.09 million in 1999. A pre-tax dividend was declared of yuan 0.22 per share. The company offered a cash dividend of yuan 0.10 per share in 1999. The glassmaker, whose A and B shares are listed in Shanghai, attributed its higher profits to rising demand for its products.

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