China Sunsine Chemical Q4 net profit falls 17.7% to 108.6m yuan

SPECIALTY rubber chemicals producer China Sunsine Chemical Holdings' fourth-quarter net profit dropped 17.7 per cent to 108.6 million yuan (S$21.9 million) from the preceding year.

For the three months ended Dec 31, revenue fell 11.8 per cent to 770.1 million yuan from the year-ago period, on the back of a fall in overall average selling price.

Earnings per share slid to 22.11 RMB cents from 26.85 RMB cents in the previous year.

Dividend per share jumped to S$0.055 from S$0.025 in the previous year.

For the year, net profit rose 88 per cent to 641.3 million yuan.

The group said it will continue to focus on production technology and innovation, as well as investment in R&D.

It added: "We remain cautiously optimistic about the Group's performance in the next 12 months, and are confident of its sustainable and stable growth."

China Sunsine finished S$0.02 or 1.5 per cent down at S$1.32 on Thursday before results were announced.