Wednesday, May 18, 2011
Anchun: Co posted -89.2%yoy -87.9%qoq drop in net profit which was attributable to 64.1%yoy drop in sales for 1Q2011 results on 13 May. Rising coal prices and severe drought have adversely affected customers’ fertilizer manufacturing businesses which in turn affected co. Note that co has been on steady decline since end Apr. Strong downward trend shows no sign of abating in the near term.