China Ceramics Revenues Soar in Second Quarter

Jinjiang, China, Aug. 10, 2011 -- China Ceramics reported second quarter revenue of $57.3 million, up 36.7% from the second quarter of 2010.

Net income was $11.1 million, up 28.1% from the second quarter of 2010.

On a quarter-to-quarter sequential basis, revenue was up 20.9% and net profit was up 34.1%, the company said in a press release.

CEO Jiadong Huang said its strategy of increasing production has paid off.

"By the end of 2011, the expansion of our Hengda and Hengdali facilities to accommodate an annual production of 72 million square meters of ceramic tiles will solidify our market position and provide for additional margin improvement," he said.

The year-over-year increase in revenue was primarily driven by a 29.2% increase in the sales volume of ceramic tiles to 13.7 million square meters in the second quarter of 2011 from 10.6 million square meters in the second quarter of 2010, the company said.