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Net profit of listed Chinese textile firms dip in 2012
Jan '13
The net profit of listed textile and apparel firms in China declined in 2012, according to latest data.
So far, 47 listed companies in textile and apparel categories have released their 2012 annual reports, which show that their net profit have dropped by an average of 4.65 percent year-on-year.
In 2010, when the Chinese textile and garment industry was upbeat, 79 listed companies in textile and clothing categories of A shares market registered a net profit growth of 61.24 percent. But the situation of Chinese textile and apparel industry became weak thereafter.
The Securities and Futures Commission (SFC) of China has categorized manufacturing industries into nine different segments, of which the textile and apparel industry showed the weakest performance in 2012, with the industry showing a 3.98 percent fall in the whole year.
The profitability of Chinese textile and clothing enterprises has declined because of the continued difference in price gap between domestic and imported cotton as well as decline in exports.

Fibre2fashion News Desk - China

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