Sany Heavy Industry, construction--Sany Heavy Industry estimates RMB 1.68 bln in net profit in Q3

Oct. 19, 2010 (China Knowledge) - Sany Heavy Industry Co Ltd<600031>, which manufactures machinery and related parts for the construction industry, said that its net profit may have grown by between 64% and 91% in the third quarter of this year to RMB 1.45 billion and RMB 1.69 billion, sources reported.
 
Basic earnings per share are expected to hit between RMB 0.60 to RMB 0.70, said the firm.

In a statement filed with the Shanghai Stock Exchange, the firm said the estimated profit surge is mainly due to an increase in product demand and market share as well as better-than-expected sales revenue.

In the first nine months of this year, the company's net profit is estimated to surge by 118% to 130% year on year to RMB 4.32 billion to 4.57 billion with basic earnings per share of RMB 1.79 to RMB 1.89, said the statement.

Sany Heavy Industry is scheduled to release its financial results for the third quarter of this year on Oct. 30.

Source: ChinaKnowledge.com