Zhejiang Glass sees 2H 2007 net profit up over 70%

HK-listed Zhejiang Glass Co Ltd said it expects its net profit for the 2H 2007 to be up over 70% from the figure for the 1H. The company attributed the sharp rise in 2H profit to higher selling prices…

HK-listed Zhejiang Glass Co Ltd said it expects its net profit for the 2H 2007 to be up over 70% from the figure for the 1H. The company attributed the sharp rise in 2H profit to higher selling prices of glass products and a relatively high return from its Qinghai Soda Ash unit. Zhejiang recorded a net loss of CNY 59.9 million in 2006, but swung to a profit of CNY 100 million in the 1H of 2007.