Packaging
China's flexible packaging material manufacturer Shiner sees revenue rise
Nov 22, 2011
Shiner International, Inc, an emerging global supplier of packaging solutions for food, tobacco, and consumer products headquartered in Hankou, China, announces that its total revenue for the third quarter of the year increased by 20.0% to US$18.6 million.
The Nasdaq-listed company attributed the increase to increased sales in biaxially-oriented polypropylene (BOPP) tobacco film and color printing products. In particular, revenue from BOPP tobacco film surged by US$3.4 million, or 92.9%, to US$7.1 million, primarily due to the increasing volume from existing customers, while revenue from coated film increased by US$0.6 million, or 6.7%, to US$6.9 million.
Revenue from color printing products increased by 76.2% to US$1.4 million, due to a new color printing sales order with Want Want China Holdings Ltd, a large manufacturer and seller of snack foods and beverages in China.
For the three months ended September 30, 2011, revenue from advanced film decreased 33.8% to US$3.0 million from US$4.5 million for the same period in 2010. This decrease was primarily due to a decline in the use of higher cost advanced film by manufacturers by the deteriorating global macroeconomic environment.
Shiner also reported that approximately 81.8%, or US$15.2 million, of its total sales in the three months ended September 30, 2011 were made to customers in China.
As a Chinese flexible packaging material manufacturer, Shiner also has sales to third-party distributors with customers in Southeast Asia, Europe, the Middle East and North America.
The Nasdaq-listed company attributed the increase to increased sales in biaxially-oriented polypropylene (BOPP) tobacco film and color printing products. In particular, revenue from BOPP tobacco film surged by US$3.4 million, or 92.9%, to US$7.1 million, primarily due to the increasing volume from existing customers, while revenue from coated film increased by US$0.6 million, or 6.7%, to US$6.9 million.
Revenue from color printing products increased by 76.2% to US$1.4 million, due to a new color printing sales order with Want Want China Holdings Ltd, a large manufacturer and seller of snack foods and beverages in China.
For the three months ended September 30, 2011, revenue from advanced film decreased 33.8% to US$3.0 million from US$4.5 million for the same period in 2010. This decrease was primarily due to a decline in the use of higher cost advanced film by manufacturers by the deteriorating global macroeconomic environment.
Shiner also reported that approximately 81.8%, or US$15.2 million, of its total sales in the three months ended September 30, 2011 were made to customers in China.
As a Chinese flexible packaging material manufacturer, Shiner also has sales to third-party distributors with customers in Southeast Asia, Europe, the Middle East and North America.
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