Nonwoven Producer Pu Jie Sold $1 Billion 150 Million Last Year.
Recently, PGI, a famous nonwovens producer, announced the results of its overall operation in 2008.
In this year, PGI achieved a record sales volume of $1 billion 150 million, up 8.1% from a year earlier, and has achieved sixth consecutive years of revenue growth. The net profit for the year was $5 million 400 thousand, while the total loss in 2007 was $41 million 800 thousand.
According to PGI, sales in the fourth quarter of 2008 increased by 5.5%, compared with 280 million US dollars in the same period last year, an increase of 14 million 500 thousand US dollars. Sales growth was mainly due to the increase in the price of raw materials in the first 8 months of 2008, prompting the sales price of products to rise.
"Through our sales records, we can increase profits and cash flows, while effectively managing the balance sheet and reducing net debt," said Ronee Hagen, President of PGI.
In the global market, PGI continues to make progress, and its strategic goal is to become a leader in the global industry. During this year, we increased production in developing countries and regions, successfully commercialized our know-how and focused on our global medical business to achieve the market that we consider to be the leading market. "
Editor in chief: Xu Qiyun
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