Jiangxi Black Cat Carbon Black Co., Ltd. has released the financial results for the third quarter of this year.
In the first nine months, the company’s operating revenue totaled 3.08 billion yuan, down 16.34% year on year; and the net profit attributable to shareholders was -4.18 million yuan, down 130.5%.
In the third quarter, the company’s operating revenue decreased 4.19% to 1.13 billion yuan; but the net profit attributable to shareholders surged 294.58% to 5,293.15 yuan.
The business performance of the company improved for two consecutive quarters.
Black Cat Carbon Black estimates that its net profit attributable to shareholders will be in the range of 35 million to 43 million yuan in 2016, up 106.65% to 153.89%.
Market analysis went that in the third quarter, the price of carbon black kept low and put pressure on the company’s operating revenue, but its revenue dropped slower than the price of carbon black.
