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China Weaving Materials Holdings Ltd comments on FY 2013 earnings guidance


Wednesday, 4 Dec 2013 04:38am EST 

China Weaving Materials Holdings Ltd:Says based on the information currently available, it expects that the Group to record a substantial increase in its consolidated net profit for FY 2013 as compared to that for FY 2012.The expected substantial increase in the consolidated net profit of the company is primarily due to the increase in gross profit margin of the Group.Such increase was mainly attributable to the lower cost of raw material as a result of the decrease in the group’s average procurement costs for cotton and polyester staple fibre during FY 2013 as compared with that of 2012.The Group has generally been able to sustain the selling prices of its yarn products. 

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