Home / Knowledge / News / Textiles / BOPET business a new growth driver for Billion Industrial
BOPET business a new growth driver for Billion Industrial
24
Aug '12
Billion Industrial Holdings Limited announced its unaudited consolidated interim results for the six months ended 30 June 2012 (the “Review Period” or the “Period”). During the review period, the Group’s revenue increased by 0.1% to RMB2,972 million (RMB2,969 million in the first half of 2011), of which, domestic sales and exports accounted for 90.1% and 9.9% respectively. 

Domestic sales increased by 4.4% to approximately RMB2,678 million (RMB2,565 million in the first half of 2011); export sales decreased by 27.2% to approximately RMB294 million (RMB405 million in the first half of 2011). The slight increase in sales was attributable to the increase in sales volume during the period. The decrease in the prices of raw material during the period led to a decrease of average selling prices of products within the industry including the products of the Group. 

Gross profit decreased by 3.7% to RMB613 million (RMB636 million in the first half of 2011). Gross profit margin decreased from 21.4% in the same period of last year to 20.6%, which was attributable to the more competitive business environment as compared with the same period last years, coupled with a greater decline in selling prices than that of raw materials.
 
In the first half of 2012, the recovery of the global economy remained uncertain as it was still affected by the European debt crisis. However, we did see signs of economic recovery in the U.S. although the recovery has been weaker than previously expected. While adjusting its economic structure, the economic growth of China has further slowed down in the first half of 2012, but it was still considered to be a rapid and stable growth if measured by international standard. With weaker demand from foreign markets, domestic demand has evidently become more important in driving China’s economic growth. We also saw rapid growth of retail sales in the second and third tier cities due to the continuing growth of domestic consumer demand.
 
Mr. Sze Tin Yau, Chairman of Billion, said, “In the first half of 2012, the decrease of average selling prices of the products slightly exceeded the decrease of the prices of raw materials, resulting in a decline of the overall profit margin in the industry. However, our sales volumes increased despite of the drop in sales price. At the same time, the overall profitability of the Company also remained stable due to our long term investment in research and development and our marketing efforts in promoting differentiate products.
 
“The year 2012 is full of challenges for both China and the global economy. Meanwhile, we believe that the domestic market will recover faster than overseas market. In the consumer sector, the growth of home furnishings market remains at a relatively high growth level which will further enhance the demand for polyester products. Looking ahead, we will actively expand our sales in overseas emerging markets in addition to continue expanding our presence in the domestic market.


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search