Changchai H1 Earnings Down 41%

   Date:2011/08/19     Source:

August 18 -- Changchai Company reported that its net profit fell 40.61 percent to 37.16 million yuan in the first half of 2011, with earnings per share of 0.07, reports, citing a company filing. Revenue increased 14.52 percent to 1.7 billion yuan during the reporting period. Both percentage changes are year-on-year.

The Changzhou-based firm’s gross margin plummeted during the reporting period due to higher labor and raw material costs.

Changchai produces agricultural machinery for the domestic market, including single-cylinder and multi-cylinder diesel engines.


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