Ceramic Industry

China Ceramics Announces 8% Increase in Third Quarter Revenue

November 18, 2010

China Ceramics Co. Ltd. has announced financial results for the third quarter ended September 30, 2010. Revenue for the third quarter increased by 8.0% to RMB 294.1 million (~ $43.3 million) compared to the 2010 second quarter, and increased by 24.7% compared to the third quarter of 2009. The sequential increase in revenue from the second quarter of 2010 was mainly driven by higher sales volume in peak season, the company reports. The year-over-year increase in revenue was primarily driven by a 21.3% increase in volume from 9.4 million square meters to 11.4 million square meters in the third quarter of 2010 compared with the same period in 2009, as well as higher average selling prices driven by improved product mix. The growth in volume was primarily due to increased production capacity at the Hengdali plant that was acquired in January. Hengdali contributed 23.2% of total revenue in the third quarter ended.

Revenue for the first nine months of 2010 increased by 29.1% to RMB 795.5 million (~ $116.7 million) compared to the 2009 period. Gross profit was RMB 247.5 million (~ $36.3 million), up 36.4% from RMB 181.5 million (~ $27 million) in the year-ago period. Gross margin was 31.1% compared to 29.5% in the same period of 2009. Selling expenses were RMB 4.7 million (~ $0.7 million) compared to RMB 5 million in the same period of 2009.

For additional details, visit www.cceramics.com.