Nine Dragons Paper (02689) said its profit attributable to equity holders for the year ended 30 June 2016 dropped 20.5% year-on-year to Rmb1,122 million.
Basic and diluted earnings per share were Rmb24.04 cents and Rmb24.03 cents.
The revenue was Rmb32,093 million, an increase of 6.6% from a year earlier.
Gross profit increased 24.3% to Rmb5,861 million. Gross margin increased from 15.7% to 18.3%, mainly contributed by the drop in the cost of the major raw materials, including chemicals and coal.
The proposed final and special dividend is Rmb8 cents (2015: Rmb5 cents) and Rmb3 cents (2015: Nil) per share, payable on 12 January 2017.
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