Revenues rise 46% at Weiqiao Textile
Said to be the largest cotton textile producer in
Net profit increased 35.7% to yuan 1.68 billion ($0.22 billion), whilst revenue grew 46% to yuan19.82 billion.
In 2006, the group’s production volume of cotton yarn increased 33.8% to 882,000 tons, grey fabric production grew 13.4% to 1,634,000,000 metres and denim increased 41.1% to 175,000,000 metres.
Commenting on the group’s performance, Ms Zhang Hongxia, chairman, said, “In 2006, the group worked to enhance its marketing effort. As a result, the utilisation rate of our production facilities was further improved. We also focused on continuously upgrading our production facilities and technology in order to provide the markets with more high-end products. Such efforts proved effective as we reached record-high revenues and net profits since our listing.”
