Mesnac reports double-digit profit growth

Qingdao, Shandong – Chinese machinery supplier Mesnac expects a significant rise in 2021 profit as it weathers the adverse impact of the Covid pandemic and increases sales.

In a 17 Jan annual performance forecast filed with the Shenzhen Stock Exchange, the rubber and tire machinery maker said it expected net profit attributable to shareholders to come in at Yuan135 million – Yuan155 million (€18.8 – €21.6 million), a year-on-year increase of 41.93% – 62.96%.

Net profit after deducting non-recurring gains and losses are estimated to come in at Yuan70 million – Yuan95 million yuan, up 199.37%– 306.28% compared to a year ago.

Mesnac said it weathered the adverse impact of the Covid-19 pandemic during the reporting period, and that orders for its rubber equipment business maintained growth.

In particular, the machinery maker said its modular manufacturing of products, processes and elements helped it improve product quality and delivery efficiency rate. 

At the same time, the company said it continued to increase investment in research and development of new products and new technologies.