China Ceramics Sees Higher First Quarter Profit

Jinjiang, China, May 14, 2012 -- China Ceramics reported first quarter net profit $11.4 million, up 32.8% from the first quarter of 2011.

Revenue was $59.1 million, up 20.9% over a year ago.

"We are pleased to report strong first quarter revenues and profits as the demand for our wide array of ceramic tile offerings drove solid sales volume to begin the year 2012," said CEO Jiadong Huang.

"Our annual production capacity of ceramic tiles is currently 56 million square meters, which includes an additional four million square million meters of newly productive capacity at our Hengdali facility. As business conditions and market demand dictate, we will plan to phase in an additional 16 million square meters of capacity at Hengdali through the year which would increase our annual production capacity to 72 million square meters of ceramic tiles."

The firm said it is focusing on Tier II and Tier III cities in China.