DGAP-News: SHIGO ASIA AG: Sales growth continues in the first half of 2010
(firmenpresse) - Shigo Asia AG / Key word(s): Half Year Results
30.09.2010 18:01
---------------------------------------------------------------------------
- Sales increased by 56% to 34.52 million EUR
- EBIT impacted by higher costs
- Production capacity will be expanded to 13.2 million blankets at the end
of October
Hamburg, 30. September 2010. SHIGO ASIA AG, the largest synthetic blanket
supplier in the world, continues its strong growth: In the first half-year
of 2010 SHIGO ASIA achieved sales of 34.52 million EUR, which represents an
increase of 56% compared to the first half of 2009.
Even though the economic downturn after financial crisis still affected the
synthetic blanket industry in 2010, SHIGO ASIA has benefited from its
earlier investments in meeting strict environmental standards and created
an important sustainable advantage in a market where the Chinese government
continues to emphasize and tighten environmental standards. 82.6% of the
company's total sales were generated in its main markets Europe, North
America, South America and the Middle East.
Operating profit (EBIT) was impacted by rising costs for raw materials and
rising labour costs.
Qian Chunsheng, Chairman of SHIGO ASIA, states: 'The greatly improved skill
level of our staff and the benefit from our future-oriented investments in
meeting strict environmental standards allowed us to achieve a strong
growth in the first half of 2010. We are very satisfied with the
development of the staff and the whole company.'
Outlook
The uncertain worldwide economic situation is expected to result in a
decrease of high value-added orders. This could lead to a decrease of the
average selling price for synthetic blankets. Furthermore raw material
prices are showing an increasing trend as well as the labour costs. These
factors combined are expected to lead to a decrease in the operating profit
of SHIGO in the year 2010.
SHIGO's management team will take great efforts to realise the annual
operation plan of the company. Linyi Grene Industrial and Trading Limited,
one of the two of SHIGO's subsidiaries, has finished the equipment
installation of three new production lines at the end of August 2010. A
full capacity production is expected for the end of October 2010. The total
production capacity of SHIGO will be improved from 9.6 million blankets to
13.2 million blankets at the end of October.
About SHIGO ASIA
SHIGO ASIA AG develops, produces and sells household textiles. The company
is the largest manufacturer of blankets in the world. SHIGO has more than 2
500 employees and observes the highest international standards in its
production operations in China.
SHIGO's competitive strengths are the development of innovative products
and modern production technology. High-quality workmanship and lavish
design are outstanding features of the textile products, which are
optimised on an ongoing basis with the focus primarily on health and
comfort.
Disclaimer concerning prognoses
Certain statements in this communication contain formulations or terms
referring to the future or future developments, as well as negations of
such formulations or terms, or similar terminology. These are described as
forward-looking statements. In addition, all information in this
communication regarding planned or future results of business segments,
financial classification numbers, developments of the financial situation,
or other financial or statistical data contains such forward-looking
statements. The company cautions prospective investors not to rely on such
forward-looking statements as certain prognoses of actual future events and
developments. The company is neither responsible nor liable for these
forward-looking statements. It is not responsible for updating such
information, which only represents the state of affairs on the day of
publication.
Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Tel.: +49 40/609186-50, janina.wismar(at)kirchhoff.de
30.09.2010 18:01 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Datum: 30.09.2010 - 18:01 Uhr
Sprache: Deutsch
News-ID 32289
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 413 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: SHIGO ASIA AG: Sales growth continues in the first half of 2010"
steht unter der journalistisch-redaktionellen Verantwortung von
Shigo Asia AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
