Wednesday, 14 May 2008

Sino Techfibre Q1 Results

Sino Techfibre posts 22% rise in 1Q08 net profit to RMB 120.6 million

• Revenue increased 19.7% to RMB331.1 million due to higher sales of microfibre synthetic leather and higher ASPs for both PU and microfibre products y-o-y
• Trial production of PMP has been successful – samples being used in synthetic leather production to further determine its quality. On track to commence commercial production in 2H08
• A distributor for its in-house PMP products has been appointed

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