[ET Net News Agency, 29 January 2018] China BlueChemical expects to report CNY50m-80m ( about Rmb50 million to Rmb80 million ) in net profit for the previous year , helped by higher selling prices on its products and impairment losses. The projected profit stands in contrast to the company's recorded net loss of around CNY216m for the 2017 financial year . A run up in raw material prices led to testing and aggregate impairment losses of CNY420m-460m being recognised on China BlueChemical coal-based urea plant and China BlueChemical phosphate and compound fertiliser plants.
China BlueChemical expects to report CNY50m-80m ( about Rmb50 million to Rmb80 million ) in net profit for the previous year , helped by higher selling prices on its products and impairment losses. The projected profit stands in contrast to the company's recorded net loss of around CNY216m for the 2017 financial year . A run up in raw material prices led to testing and aggregate impairment losses of CNY420m-460m being recognised on China BlueChemical coal-based urea plant and China BlueChemical phosphate and compound fertiliser plants.