Chinese Flax Company's Revenue Increased 79% In The First Quarter.

Chinese flax textile industry The company's first quarter earnings report released on May 23rd showed that it benefited from Sales volume Growth and unit price increase, the company's total revenue in the first quarter reached $15 million 800 thousand, an increase of 79% over the same period, and net income of $3 million 200 thousand, an increase of 50% over the same period last year. The earnings report also showed that the company was driven by sales growth in the first quarter. Gross profit 5 million 700 thousand US dollars, an increase of 109% over the same period last year. Gross profit margin reached 36%, which was 30.9% in the first quarter of 2010. Operating expenses reached $1 million 200 thousand in the first quarter, up 131% from the same period last year, mainly due to the increase in the previous year. Sale R & D, etc. Cost The increase.

Sales of the emerging markets in India, Turkey, Spain and Thailand accounted for 58% of the total revenue, while the demand for flax products increased in the domestic market. Influenced by fashion trends, European and Asian markets are beginning to favour pure linen products and accessories, and consumers are increasingly recognizing the quality and value of linen products. Meanwhile, due to the overall rise in cotton prices, linen products are relatively more affordable, and the market for flax products is expected to continue to expand in 2011.

China linen textile industry company is a large group company engaged in the research, production and sale of linen textile products, its headquarters is in Harbin, and is listed on the US OTCBB market in 2008.