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China Sunsine expects major increase in Q3 profit
CHINA Sunsine Chemical Holding said on Monday that it is expecting to report a substantial increase in consolidated net profit, compared to the corresponding quarter between July 1, 2013 and Sept 30, 2013.
The specialty-chemical producer said the expected profit growth is mainly due to the increase in both average selling price and sales volume of its products.
"The expected profit growth is consistent with the recent trend of increased average selling price and sales volume of the group's products as seen in the last two quarters,'' the China-centric company said.
It is finalising its unaudited consolidated results for the third quarter, which will be released before Nov 14, 2014.
China Sunsine is the largest producer of rubber accelerators in China. It is also a major producer of insoluble sulphur in the mainland, serving more than 60 per cent of the global top 75 tyre manufacturers, including Bridgestone, Michelin, Goodyear and Pirelli.