Zoomlion forecasts 126 to 179 pct profit growth in Q1

Source: Xinhua | 2019-04-09

Zoomlion Heavy Industry Science & Technology Co., Ltd., one of China's top construction machinery manufacturers, forecast an annual net profit growth between 125.6 percent and 178.7 percent for the first quarter of 2019.
In a filing to the Shenzhen Stock Exchange, Zoomlion said it expected to make a net profit of 850 million yuan (126.5 million U.S. dollars) to 1.05 billion yuan in the first three months of the year.
The Changsha-based company said the strong profit growth came amid growing demand for construction machinery, expanding market shares and rising profit margins.
Shares of Zoomlion jumped 8.32 percent to 5.47 yuan Monday in Shenzhen even as the Shenzhen Component Index retreated 0.61 percent.