Hainan Rubber (601118.SH) forecasts H1 net down 50pct on year
As China's natural rubber leading company, Hainan Rubber (601118.SH) announced that its net profits for the first half of 2012 to fall at least 50 percent year on year, according to the company’s filing to the Shanghai stock exchange.
Hainan Rubber earlier said that its Q1 net profits slumped by 46 percent from the same period of last year, chiefly due to the sharp decline in natural rubber prices.
The situation failed to get an improve in the second quarter, said Hainan Rubber, the company’s net profits from January to June of 2011 stayed at 422 million yuan.
Hainan Rubber is mainly engaged in planting, processing and trading of natural rubber.
The company is scheduled to release its H1 financial report on August 18.
(Contributed by Olivia, Olivia@tireworld.com.cn )
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