MESNAC Q3 net profit surges
MESNAC Co., Ltd. released Oct. 21 the financial results for the third quarter of this year.
In the third quarter, the company’s operating revenue totaled 1.91 billion yuan, up 41.14% year on year; and the net profit was 85.15 million yuan, surging 340.36%.
It said the business performance in the first half showed signs of recovery.
In the first quarter, MESNAC’s operating revenue and net profit were 581 million yuan and 14.79 million yuan, respectively, up 80.62% and 141.95% year on year.
In the first half, its operating revenue and net profit were 1.25 billion yuan and 61.67 million yuan, respectively, up 35.80% and 238.83%.
Moreover, the firm predicts that the net profit in 2017 will reach 110 million yuan to 140 million yuan, while it lost 771 million yuan last year.
MESNAC said because of the rebound in business volume of rubber tire equipment system and compound rubber, it removed non-strategically-important businesses, which narrowed losses, thus boosted prediction for net profit growth.
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