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Keyuan Plunges To Loss In Q4

Keyuan Petrochemicals Inc. (KEYP.PK), Friday, reported a loss for the fourth quarter compared to a profit last year, mainly affected by higher raw material prices.

The China-based company reported a fourth-quarter net loss attributable to common shareholders of $100 thousands or $0.00 per share, compared to a net profit of $6.2 million or $0.11 per share last year.

Total revenues for the quarter grew 4.2 percent to $164.4 million from $158.0 million in the prior-year quarter.

Looking ahead, the company expects full-year net income of $30 million and revenues of $880 million.

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by RTT Staff Writer

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