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Jiutian Chemical warns of loss for 2015

MAINBOARD-LISTED chemical maker Jiutian Chemical Group has warned investors that it will report a net loss for 2015 despite profits made in the first half of the year.

This was due to worsening market conditions in the second half which impacted both sales volumes and average selling prices of its products, the company said.

Further details will be announced when its unaudited financial statements are out on Feb 19, it said.

As at Sept 30, 2015, the group had a nine-month net profit of 9.4 million yuan (S$2 million) on 523 million yuan of revenue. This was down from 31 million yuan of net profit on 681 million yuan of revenue a year ago.

Jiutian last traded unchanged at S$0.019.