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Robust sales boost China Taisan Technology's Q3 profit
28
Jan '14
Driven by robust revenue amid a launch of new products, Singapore-based China Taisan Technology Group Holdings Limited returned to profitability in the third quarter of 2013.
 
The investment holding company which engages in the manufacture and sale of knitted fabrics in the People’s Republic of China, witnessed a 15.4 per cent rise in consolidated sales at RMB 209.3 million in the third quarter ended September 30, 2013 from RMB 181.4 million in the same period a year ago.
 
The impressive rise in revenue of the company in Q3 2013 was mainly attributed to the launch of four new products during the quarter and lower selling price for old performance fabrics in a bid to attract new customers and retain the existing ones.
 
Sales volume of performance fabrics rose by 33.2 per cent to 4,316 tonnes in Q3 2013 from 3,240 tonnes in the same period a year ago. In value terms, revenue from performance fabrics segment rose by 17.7 per cent to RMB 199.36 million in Q3 2013 from the same period a year ago.
 
The average selling price of performance fabrics fell by 11.6 per cent, year on year in the third quarter of 2013 amid lower cost of materials used in production of new products.
 
The company, which is one of the leading producers of knitted performance fabrics in China, witnessed a consolidated profit of RMB 7.3 million in Q3 2013, compared to a loss of RMB 33.3 million in the year ago period.
 
The knitted performance fabrics produced by China Taisan Technology are used in sportswear and leisure apparel for famous brands such as Nike and Adidas.
 

Fibre2fashion News Desk - India


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