China's CSG Holding forecasts soaring profits for 2009

20:28, January 28, 2010      

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CSG Holding Co., Ltd., China's leading glass manufacturer, forecast its net profits in 2009 would jump 90 to 102 percent from the previous year Thursday.

Its shares opened at 17.85 yuan apiece Thursday, up 1.25 percent from a previous close.

In a statement filed to the Shenzhen Stock Exchange, CSG Holding said its net profits in 2009 would be 800 to 850 million yuan (about 117 to 124 million U.S. dollars). Earnings per share would rise to somewhere between 0.65 and 0.69 yuan, much higher than 0.35 yuan in 2008.

The company, based in Shenzhen, south China's Guangdong Province, attributed the soaring profits to the better-than-expected sales of flat glass.

Source: Xinhua
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