China's Fuyao Glass Sees 2007 Net Up Over 50%

Reuters reported that Fuyao Group Glass Industries Co China's biggest automotive glass maker, forecast on Sunday that net profit would rise over 50 percent this year.

The company cited rising sales, the full coming onto line of new production facilities, and its development of technology making production more efficient.

Last year, the company made a net profit of 607.22 million yuan ($82.4 million). In the first nine months of 2007, profit climbed 45 percent from a year earlier to 657.18 million yuan.

600450 China's Fuyao Glass Sees 2007 Net Up Over 50% glassonweb.com
Date: 18 December 2007
Source: Reuters

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