China's Fuyao sees over 50 pct growth in Q1 net

Newswire

SHANGHAI, March 26 (Reuters) - China's Fuyao Group Glass Industries Co. Ltd. , in which Goldman Sachs is buying a stake, said on Monday its net profit would likely rise more than 50 percent year-on-year in the first quarter. The company, China's top automotive glass maker, said in a statement that the expected earnings increase was fuelled by sharply higher exports, returns from new projects as well as technological upgrade. The company reported a net profit of 96 million yuan ($12.42 ...

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