The board of directors of Hong Kong-based Nine Dragons Paper (Holdings) Ltd. has announced that “based on the preliminary review of the latest unaudited management accounts and other currently available information of the group,” profits for the six months ending Dec. 31, 2017, are “expected to increase not less than 90 percent” compared with the second half of 2016.
The company cites “an increase in the selling price of [its] products and a better profit margin of the group” as reasons for a projected profit of RMB 2,002.2 million ($303 million) “if the exchange losses on operating and financing activities net of tax amounting to RMB 87.5 million ($13.2 million)” are excluded.
The final, audited results for the company’s 2017 second half are expected to be published by the end of February 2018, according to a Nine Dragons news release.
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