TORONTO (Indonesia Today) – Hanfeng Evergreen Inc reported sales for the quarter ended June 30, 2012 increased by 7.4% to $92.2 million from $53.7 million for the same quarter of fiscal 2011.??
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The increase from the comparative period in 2011 is primarily attributable to a higher volume of sales in the fourth quarter at the Heilongjiang facility and contributions from the joint venture facility in Indonesia, as well the negative impact of an extended maintenance turnaround that commenced in the fourth quarter of 2011 at the Heilongjiang facility.
Sales revenue in fiscal 2012 was $248.5 million compared to $246.8 million in the year ended June 30, 2011. The increase is also primarily the result of higher sales prices per ton from the Heilongjiang facility and increased contribution from the Indonesian joint venture.
Hanfeng is a leading producer and supplier of value-added fertilizer solutions in emerging markets. It is the largest producer of slow and controlled release fertilizer in two of world’s most significant agricultural markets: the People’s Republic of China and the Republic of Indonesia. (Indonesia Today)