Shandong Pharmaceutical Glass Jan-Sep Net Profits Up 14.73%

Shandong Pharmaceutical Glass Co., Ltd. said that it reaped net profits of CNY 98.8424 million in January-September 2008, leaping 14.73% from a year ago.

The company gained operating revenue of CNY 895 million, rising 19.98% year on year. Basic earnings per share stood at CNY 0.384.

Besides, it reaped operating revenue of CNY 329 million, net profits of CNY 32.48186 million and basic earnings of CNY 0.1262 in July-September 2008.

Shandong Pharmaceutical Glass is engaged in producing and selling pharmaceutical glass products and is the largest one of its likes in China with a 70%-plus market share.

The company said that gross profit margin of its products sided in the nine months, due to rising raw material cost and decreasing debates on export tariffs. However, the company´s performance in the overseas markets was not greatly impacted, as its products have cost advantage and are necessities.

Moreover, the company expected to lift its annual production capacity to 9.8 billion molded bottles, 1.2 billion brown bottles and 4.6 billion butyl rubber plugs at the end of 2008.