LiuGong, Machinery, loader, excavator--Guangxi Liugong Machinery Q3 Net Profit Up 73%

October 15 -- Guangxi Liugong Machinery (000528) forecasted a 73 percent year-on-year increase in net profit to 340 million yuan in the third quarter of 2010, reports caijing.com.cn, citing a company filing.

The company also predicts net profit in the first three quarters will total 1.26 billion yuan, up 122 percent year-on-year.

Guangxi Liugong Machinery attributed net profit growth to revenue gains.

According to an unnamed analyst from Everbright Securities (601788), the sales performance of the company’s mechanical loaders grew steadily in the first three quarters, while excavator sales also remained strong during the same period.

Source: Capital Vue