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Zoomlion (01157) expects 1H profit to rise 172-212%
12 Jul 2019
(Infocast News) Zoomlion Heavy Industry Science and Technology (01157) expects RMB2.4-2.7 billion net profit attributable to equity shareholders for the first six months ended 30 June 2019, representing a year-on-year increase of 171.71-212.42%. The basic EPS for the first half of this year is estimated at RMB0.31-0.34.

With the increasing demand from downstream industries such as real estate and infrastructure construction industry, the recovery of the construction machinery industry, as well as the strong demand from the market, the orders and sales of the group's concrete equipment and crane equipment products continued to grow rapidly. The company's core products (products of 4.0 series) including concrete pump trucks, tower cranes, and construction cranes have an increased market coverage, further strengthens the group's market competitiveness. The company continues to strictly control the costs and expenses. In the first half of 2019, the scale of sales increased, and the expense ratio had a faster year-on-year decrease.

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