Mainboard-listed Ziwo Holdings, the China-based producer of foam and fabric materials, reported revenue and earnings of RMB146.1 million ($28.4 million) and RMB31.1 million respectively for the three months ended 31 December 2010 (4Q10), representing year-on-year increases of 48.5% and 58.7% respectively.
Group revenue for the 12 months ended 31 December 2010 (FY10) was RMB513.0 million, an increase of 41.8% y-o-y, while earnings rose 22.5% to a record RMB116.7 million.
BR and other foamed materials continued to be the main contributor to Ziwo’s sales and accounted for RMB320.6 million or 62.5% of the group’s total sales. In terms of sales volume, this product segment was also the biggest for the Group at 24,840 tonnes, a 27.3% increase from FY09. ASP for high foamed PE, foamed SBR and foamed EVA rose by 17.5%, 11.5% and 6.0%, respectively.
30D TFY, which is the second biggest contributor, recorded RMB150.1 million or 29.3% of the group’s total sales for the year. Sales volume for 30D TFY rose 23.8% to 10,084 tonnes in FY10 and ASP grew by 15.9%.
Sandwich mesh fabric contributed RMB40 million or 7.8% to the group’s FY10 revenue. This product segment registered a 3.8% increase in sales volume to 1,747 tonnes and ASP increased by 16.5%.
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