Jiutian Chemical to report 'significant increase' in profit for FY2021
Add BT as a preferred source
JIUTIAN Chemical Group is expecting to report a "significant increase" in consolidated net profit after tax for the full year ended Dec 31, 2021, due to higher average selling price and sales volume of their main products.
In a bourse filing on Monday (Feb 7), the Catalist-listed chemical company noted strong demand for its main products of dimethylformamide and methylamine since the start of FY2021.
This comes as China's post Covid-19 economic recovery gathered momentum during the current financial year, it added.
For the previous financial year ended Dec 31, 2020, Jiutian Chemical reported record-high earnings of 173.7 million yuan (S$36.9 million) but said it was not in a position to recommend a dividend as it was not profitable at firm level.
Its financial results for FY2021 will be announced by Feb 28, 2022.
Shares of Jiutian Chemical closed flat at S$0.087 on Friday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Knight Frank Singapore CEO Galven Tan resigns after 2.5 years at helm
ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land
15-month wait-out curb lifted for private property owners buying HDB resale flats
Philippines’ income upgrade hides grim reality for most Filipinos
