Zoomlion--Zoomlion Heavy Industry Estimates Q1-Q3 Earnings To Grow 70%

October 13 -- Changsha Zoomlion Heavy Industry Science And Technology Development (Zoomlion) (000157) predicts net profit will increase 70-90 percent year-on-year to 2.86-3.19 billion yuan during the first three quarters of 2010, reports yicai.com, according to a company filing.

The net profit in the third quarter is expected to reach between 653.62-989.62 million yuan.

Zoomlion completed a private placement worth 290 million in the beginning of the year.

In addition, the company distributed share dividends of 15 shares for every ten shares held in the first half of the fiscal 2010 year.

Shares of Changsha Zoomlion Heavy Industry Science And Technology Development rose 1.29 percent to trade at 12.59 yuan at 11:24am.