Weiqiao Textile Company Limited (WQTEF.PK) announced its 2012 net profit attributable to owners of the parent company was about RMB 482 million, representing an increase of approximately 95.9% as compared with 2011. Earnings per share were RMB0.40, an increase of approximately 90.5% from last year.
The company reported revenue of approximately RMB 15.25 billion, about the same level as in 2011.
The company said that its board recommended the payment of a final dividend of RMB0.1246 per share (tax inclusive) for the year ended 31 December 2012.
Zhang Hongxia, Chairman of Weiqiao Textile, said, "Looking into 2013, the recovery of the global economy still holds many uncertainties. As a result, Weiqiao Textile will continue to improve its product mix, encourage innovation, strengthen its brand image, and further enhance its profitability. In the meantime, by leveraging the Group's competitive advantages, which include global cotton procurement channels, self-generated electricity and steam supplies, Weiqiao Textile will continue its efforts to control costs and maintain, or even increase, its market share in the face of continued market turbulence through proactive sales strategies and flexible pricing policies. The Group's management believes that its operating efficiency and strategy will benefit once the market recovers."
For comments and feedback: editorial@rttnews.com