TC

25/08/2016 16:37

Xinchen Power (01148) 1H net down 12.5% to Rmb128m; no div

    Xinchen China Power (01148) said its profit attributable to owners for the six months ended 30 June 2016 dropped 12.5% year-on-year to Rmb128 million.
  Basic earnings per share were Rmb10 cents.
  The revenue was Rmb1,722 million, an increase of 3% from a year earlier.
  The gross profit margin of the Group decreased from about 15.5% in the first half
of 2015 to about 13.6% in the first half of 2016. The decrease was mainly due to a decrease in the sales volume of diesel engines, which affected the profitability of the Group's diesel engines products and a decrease in the selling price and sales volume of connection rods.
  No interim dividend will be distributed.

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