Ceramic Industry News

China Ceramics' Annual Revenue Up 27%

China Ceramics Co. Ltd. recently announced financial results for the fourth quarter ended December 31, 2010. Revenue for the fourth quarter ended December 31, 2010, was RMB 273.1 million (~ $42.5 million), up 24.3% compared to the fourth quarter ended December 31, 2009. The year-over-year increase in revenue was primarily driven by a 17.4% increase in volume from 8.6 million sq m to 10.1 million sq m in the fourth quarter of 2010, compared with the same period in 2009. The growth in volume was primarily due to increased production capacity at the plant in Gaoan, Jiangxi Province, which was acquired in January 2010.

Gross profit for the fourth quarter ended December 31, 2010, was RMB 91.5 million (~ $14.2 million), up 27.6% from RMB 71.7 million (~ $10 million) for the fourth quarter ended December 31, 2009. The year-over-year increase in gross profit was driven by higher sales volume and higher gross margin of new products in the Hengdali operation. Gross margin was 33.5%, compared to 32.6% for the same period last year.

Revenue for the year ended December 31, 2010, increased by 27.9% to RMB 1,068.6 million (~ $159.2 million) compared to the year ended December 31, 2009. Gross profit in 2010 was RMB 339.0 million (~ $50.5 million), up 33.9% from RMB 253.2 million (~ $38 million) in the previous year. Net profit for 2010 was RMB 225.5 million (~ $33.6 million), up 47.5% from 2009. Earnings per fully diluted share in 2010 were RMB 16.96 (~ $2.53), down from RMB 23.65 (~ $3.5) in 2009.

For additional details, visit www.cceramics.com.

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