China Ceramics Company Ltd. is a leading Chinese manufacturer of ceramic tiles used for exterior siding and interior flooring and design in residential and commercial buildings. China Ceramics produces five different types of ceramic tiles which are sold under the “HD” or “Hengda” brand. The company’s products are available in over two thousand styles, colors and size combinations. Their products are distributed either through a network of exclusive distributors or directly to large property developers.
The company today announced selected, estimated and unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009. China Ceramics expects total net revenues of approximately $129 million for fiscal year 2009. This figure exceeds its previous revenue guidance of $126.6 million for the period. In addition, the company expects its net revenues for the fourth quarter of 2009 to be approximately $33.9 million.
China Ceramics’ outlook for 2010 remains positive and its backlog of orders for delivery in the first quarter of 2010 stands at about $35.5 million. This represents an underlying annual growth rate of 36 percent compared to the first quarter of last year. The company expects to hold a conference call to discuss audited results for the fourth quarter and fiscal year 2010 at the end of March 2010.
The outlook discussed at this conference call should be positive. The chairman of China Ceramics, Jia Dong Huang, stated, “We are pleased with our strong growth in the fourth quarter, reflecting the solid execution of our strategy and the healthy fundamentals of our industry. We are excited by the opportunities for the profitable growth of our business in the year ahead, as we continue to leverage our technology and distribution network to expand our production capacity and increase our market share.”