China toothpaste co posts 35pc decline in profit

BEIJING, April 17 (Xinhua): Liuzhou Liangmianzhen, one of China's leading makers of oral hygiene products, posted on Sunday a decline of 35 per cent in net profit in 2010 on soaring costs and fierce competition. Net profit totaled 10.83 million yuan (1.66 million US dollars), and earnings per share stood at 0.0241 yuan, a decrease of 35 per cent from 2009, the company said in a statement filed with the Shanghai Stock Exchange. The profit-making ability of the company saw sharp decline in 2010 as the profit reduction was registered along side a 31 per cent increase in business revenues which reached 936.4 million yuan, according to the statement. The company attributed the performance mainly to surging cost of raw materials and fierce competition from transnational companies which have more powerful brands.