Nine Dragons gives promising earnings guidance

Nine Dragons gives promising earnings guidance
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An alert to investors issued by Hong Kong-based Nine Dragons Paper Co. Ltd. states the paperboard making firm sees its 2017/2018 fiscal year, which ended June 30, 2018, shaping up with “profit attributable to equity holders of the company for the year expected to increase not less than 60 percent as compared to the last year, due to an increase in the selling price of the products and a better profit margin of the group.”

In the investor alert from the company’s board and chair Cheung Yan, Nine Dragons notes that in the 2016/2017 prior fiscal year, the company earned profits of RMB4.765 billion ($697 million).

A 60 percent increase on that figure would result in profits of RMB7.62 billion (more than $1.1 billion) in the 2017/2018 fiscal year. The statement refers to those figures as a “preliminary result,” adding that final numbers for its 2017/2018 fiscal year will be released in September.

Nine Dragons, one of the world’s largest recycled feedstock-based paper and board producers, operates 39 packaging board and printing and writing paper machines located at eight production complexes in China, one in Vietnam and at two mills in the United States acquired from Catalyst Paper in May 2018. The company says it has “an aggregate annual design capacity of over 14 million metric tons.”

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Source: Recycling Today
Nine Dragons gives promising earnings guidance
<![CDATA[An alert to investors issued by Hong Kong-based Nine Dragons Paper Co. Ltd. states the paperboard making firm sees its 2017/2018 fiscal year, which ended June 30, 2018, shaping up with “profit attributable to equity holders of the company for the year expected to increase not less than 60 percent as compared to the last year, due to an increase in the selling price of the products and a better profit margin of the group.”In the investor alert from the company’s board and chair Cheung Yan, Nine Dragons notes that in the 2016/2017 prior fiscal year, the company earned profits of RMB4.765 billion ($697 million). A 60 percent increase on that figure would result in profits of RMB7.62 billion (more than $1.1 billion) in the 2017/2018 fiscal year. The statement refers to those figures as a “preliminary result,” adding that final numbers for its 2017/2018 fiscal year will be released in September.Nine Dragons, one of the world’s largest recycled feedstock-based paper and board producers, operates 39 packaging board and printing and writing paper machines located at eight production complexes in China, one in Vietnam and at two mills in the United States acquired from Catalyst Paper in May 2018. The…