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Flat Glass Group's H1 Profit Falls; Shares Rise

MT Newswires ·  {{timeTz}}

01:38 AM EDT, 08/26/2022 (MT Newswires) -- Flat Glass Group's (HKG:6865, SHA:601865) attributable first-half profit fell 20.5% from a year ago due to a decrease in the average sales price of PV glass and higher costs of raw materials and energy.

Profit of the glass manufacturer fell to 1 billion yuan ($146.3 million), or 0.47 yuan per share, from 1.26 billion yuan, or 0.59 yuan per share, a year earlier, according to a Thursday filing.

Revenue jumped to 7.30 billion yuan from 4.03 billion yuan a year ago.

Shares jumped more than 13% in Hong Kong and 7% in Shanghai recently.

Price (HKD): $26.70, Change: $+3.00, Percent Change: +12.66%

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