News blog
China Biodiesel International
- BY: Andrew Hore |
- POSTED: 28/10/2008 |
China Biodiesel International’s biodiesel selling prices have been hit by the slump in the oil price.
The vegetable oil feedstock price is also coming down but China Biodiesel is still using oil it has bought at higher prices. That is hurting gross margins. China Biodiesel is still making gross profits on its production. However, it expects to make a pre-tax loss in the second half of 2008.
The first half profit improved from RMB7.92m to RMB9.93m.
Production will be reduced until the market becomes less volatile. By next year the raw material costs should be lower as dearer stocks are used up.
At 6.5p a share, China Biodiesel is valued at £2.95m.
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