Friday, 29 Jul 2011

MCC Meili Paper Industry Co., Ltd announced that it expects its net profit for the first half of fiscal year (FY) 2011 to be approximately RMB -54 million, compared to that of the same period in FY 2010 (RMB -77.27 million). The Company cited the increased price of raw materials and increased financial expenses as the main reasons for the forecast.