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PRCO's Q3 sales up 0.61% YoY

2020-11-03

Nov. 3, 2020 - Puyang Refractories Group Co., Ltd. (PRCO, SZSE: 002225), the leading refractories suppliers of China, has reported its operating result for the third quarter and nine months of 2020. It shows that the revenue from January to September 2020 was 3.071 billion yuan, down by 1.71% year-on-year; the net profit attributable to shareholders was 245 million yuan, an increase of 20.46% year-on-year.

 

Data also shows that in the third quarter, PRCO's operating revenue was 992 million yuan, a year-on-year increase of 0.61%; the net profit attributable to shareholders was 77.143 million yuan, a year-on-year increase of 8.46%.

 

It’s learned that PRCO has many contracts and orders that were signed or priced last year. The prices of many raw materials have dropped significantly due to the impact of Covid-19 pandemic this year, resulting in an increase in the profit margin of the company.

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