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China Biodiesel International

  • BY: Andrew Hore |
  • POSTED: 09/02/2010 |

China Biodiesel International says that it will report flat profits and revenues for 2009.

In 2008, the biodiesel producer reported revenues of RMB164.2m and post-tax profit of RMB4.1m. That profit is after RMB7m of stock write-downs. CBI says that post-tax profit will be approximately RMB11m in 2009, which is in line with the underlying figure in 2008. The interim profit was RMB5.97m.

CBI shipped 39,000 tonnes of biodiesel in 2009, up from 25,273 tonnes the year before. The new Xiamen plant contributed eight months production.

The business is cash generative and borrowings have been reduced.

At 8.25p a share, up 1p on the day, CBI is valued at £3.75m.

The 2009 figures will be published in April.

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