Sinostar PEC Posts Positive Growth in 3Q2019 Results
13 Nov 2019
- Net Profit surged 30.9% Y-O-Y to RMB 26.0 million
- The group’s focus remains on maintaining financial discipline and reliable operations
- Anticipates a positive financial result in upcoming quarters
Sinostar PEC Holdings Limited (SGX: C9Q), one of the largest producers and suppliers of downstream petrochemical products within the Shandong Dongming Petrochemical Industrial Zone, today announced its financial results for its three months ended 30 September 2019 (“3Q2019”), recording a surge of 30.9% Y-O-Y in its net profit to RMB 26.0 million.
Mr Zhang Liucheng, Chief Executive Officer and Executive Director of Sinostar PEC, commented, “Notwithstanding the periodical maintenance of our production plants that affected our overall production, we are pleased to have registered an improvement on our financial front in this fiscal quarter. With the completion of the plant maintenance in end August, we remain confident in maintaining our positive momentum as we continue to produce value-added products that will help bolster our revenue contributions. We’re also continuing to advance our strategy, making strong progress with our plans and building new opportunities.”