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Company

China heavy equipment maker Sany expects profit surge in H1

July 18, 2019


Abstract : China's leading heavy equipment manufacturer Sany Heavy Industry Co., Ltd. forecasted significant profit growth in the first half of 2019.

SHANGHAI, July 17 (Xinhua) -- China's leading heavy equipment manufacturer Sany Heavy Industry Co., Ltd. forecasted significant profit growth in the first half of 2019.

In a filing to the Shanghai Stock Exchange, Sany expected its net profit attributable to its shareholders to reach at least 6.5 billion yuan (944 million U.S. dollars) in the January-June period.

Sany said its profit was predicted to surge by 91.82 percent year on year, as factors including increased infrastructure construction, environmental protection and a shift from labor to machinery drove up sales.

The company also attributed the robust H1 performance to a larger market share of its excavators, concrete machinery and cranes, especially in the overseas market.

Shares of Sany closed 2.13 percent higher at 13.44 yuan on Wednesday.

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Keyword: Sany profit listed company

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