Zoomlion expects soaring profit gains for 2009
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Zoomlion Heavy Industry Science & Technology Development Co. Ltd (Zoomlion), a leading hi-tech company focused on construction machinery business in China, on Tuesday forecast its net profit in 2009 would grow 50 to 70 percent from a year ago.
In a statement to the Shenzhen Stock Exchange, Zoomlion said its net profit for last year was expected to total between 2.36 and 2.67 billion yuan (345 to 391 million U.S. dollars), and earnings per share would range from 1.40 to 1.19 yuan.
The rise in the company's profit was attributed to strong market demand and synergy effects of main products which pulled soaring year-on-year sales revenue.
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