China Ceramics' Profit Surges in Quarter

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China Ceramics' Profit Surges in Quarter

 

Jinjiang, China, March 14, 2011 -- China Ceramics Co. said that net profit for the fourth quarter was $9.4 million, up 133.5% from the same period in 2009.

Revenue for the quarter was $42.5 million, up 24.3% from the fourth quarter of 2009


For the year, net profit was $33.6 million, up 47.5% from 2009, on revenue of $159.2 million, up 27.9% from 2009.

The company's said its backlog of orders for delivery in the first quarter of 2011 is approximately $49.0 million, representing a year-over-year growth rate of 33.4% compared to the first quarter of 2010.

The expected sales volume in the first quarter of 2011 is approximately 11.5 million square meters, representing a 30.7% increase from 8.8 million square meters sold in the first quarter of 2010.

The company expects the completion of phase II at Hengdali will happen at the beginning of second quarter of 2011, which is expected to increase annual production capacity to 24 million square meters, up from 10 million square meters.