Jan
22nd

China machinery maker Zoomlion ups 2007 net f’cast

Files under Machinery | Posted by admin

Changsha Zoomlion Industry Science and Technology Development 000157.SZ, a major Chinese heavy machinery maker, said on Tuesday it expects to post a 150-200 percent growth in its 2007 net profit on robust sales.

The prediction was substantially higher than the forecast it made in October, when the firm expected its net profit to grow 100-150 percent year on year in 2007 from 480.9 million yuan ($66.47 million) in 2006, Zoomlion said.

In a filing with the Shenzhen stock exchange, the company attributed the expected earnings surge to a substantial increase in the sale of its core products.

Detailed figures will be announced in its annual report to be released by April 1.

Post a Comment