Cotton Prices Hit A Record High In The Three Quarter Of This Year.

2010/10/11 15:30:00 54

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Cotton Has Been Created Repeatedly

In October 9th,

Seven wolves

In a telephone interview with reporters, Ms. Chen, a securities affairs representative of the industrial Limited by Share Ltd (002029.SZ), said that the increase in raw material (cotton) prices did not affect the company's profit growth.

The company expects net profit growth of 20%-40% in the first three quarters.

Li Yanhua, an analyst with GF Securities, said that although the raw materials (cotton and so on) were soaring this year, the overall revenue and profit growth of the textile and garment industry still maintained a relatively fast pace.

Ms. Chen told reporters that with the raw materials (

cotton

The price has gone up and the company has raised the selling price accordingly.

It is expected that the net profit of the first three quarters of this year will increase by 20%-40% compared to the same period, while the main revenue in the first three quarters of 2009 will be 1 billion 460 million yuan and net profit 130 million yuan.

On the same day, China's largest textile enterprise

sunvim

Mr. Peng, director of the group Limited by Share Ltd (002083.SZ), said in an interview with reporters that under the background of rising raw materials, the company's net profit this year is expected to grow by 30%-50% over the same period.

He said that the company has a certain amount of cotton reserves, reserves can generally reach 4 to 5 months of total consumption, while the company conducted a price adjustment in the second quarter, sales prices rose by about 5%.

The company's export volume is about 80%, and if cotton prices continue to rise, the company may continue to raise its selling price.

Mr. Peng added that in 2009, the company's main business revenue was 3 billion 230 million yuan, and its net profit was 110 million yuan.

Li Yanhua told reporters on the phone that clothing and textile enterprises are mostly brand enterprises. On the one hand, in the recovery period of the market, it is easier to shift the cost by raising the price of products and increasing the proportion of products with high gross margin; on the other hand, enterprises have reserves of raw materials.

But in the future, with the high operation of raw materials and the rising cost of labor, the higher profit growth and profit margin level of clothing and textile industry may not be sustainable at present.

The research report released by Bohai securities in October 9th showed that cotton prices hit a record high in the three quarter of this year. At the end of September, the main contract of domestic cotton futures of Zhengzheng merchants company closed at 22105 yuan / ton, up 5275 yuan / ton this year, or 31%.