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Da Ming Int'l (01090): Q1 profit RMB46M, up 121%
18 Apr 2019
(Infocast News) Da Ming International (01090) announced that the sales volume and processing volume of the stainless steel processing services of the group for the first quarter ended 31 March 2019 amounted to 410,904 tonnes and 577,531 tonnes respectively, representing an increase of approximately 5.7% and a decrease of 1.6% respectively compared with the same period last year.

The sales volume and processing volume of the carbon steel processing services of the group for the quarter amounted to 570,658 tonnes and 631,382 tonnes respectively, representing an increase of 42.1% and 56.3% respectively.

Revenue from the group's manufacturing business amounted to RMB226.3 million for the quarter, representing an increase of 56.2%.

The group recorded an unaudited net profit of RMB46.0 million for the quarter, representing an increase of 121.2%. The increase in unaudited net profit was mainly due to the improvement in profit margin, especially on carbon steel processing business.

(WL)
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