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Fufeng Group (00546) sees 1H profit rising at least 80%
22 Jul 2019
(Infocast News) Fufeng Group (00546) expects its consolidated profit attributable to the shareholders of the company for the six months ended 30 June 2019 to increase by at least 80% on year.

The increase was mainly attributable to the following principal factors:

i) the group's MSG business achieved better performance as a result of reduced level of irrational competition in terms of pricing and production volume by peer companies, resulting in the continued improvement in the oversupply situation in the industry, which enabled leading enterprises to enjoy the ability to drive a more sustainable development of the overall MSG competitive landscape; and

ii) following the strong momentum of MSG price movement during the fourth quarter of 2018, the price of MSG remained robust and continued to edge higher during the first half of 2019.

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