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Sinofert Holdings Ltd Comments On H1 2013 Net Profit Guidance


Wednesday, 26 Jun 2013 04:22am EDT 

Sinofert Holdings Ltd announced that it is expected that there will be a notable decrease in the net profit of the Group for the first half of 2013 as compared with that for the first half of 2012. The decrease is mainly attributable to (the impact of global economic downturn and weather and climate extremes, which continuously intensified the supply and demand imbalances in the domestic and overseas fertilizer markets, leading to a decline in sales price of the products and an increase in pressure on gross profit margins; and the acceleration of the decline in the upstream phosphorous chemical market since the second quarter of 2013, leading to a deterioration in the performance of the phosphate fertilizer and phosphorous chemical businesses of the subsidiaries and investee companies of the Company. 

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