Singaporean chemical maker Jiutian Chemical Group on Thursday said it expected to report a "significant" rise in first-half revenue and net profit due to an increase in sales volume and average selling price of products.
Jiutian Chemical, which is engaged in producing consumable carbon dioxide and oxygen, said production of its main products, DMF and methylamine, was operating at 71 percent and 100 percent of its production capacity during six months period ended June 30.
The increase in revenue and net profit comes "...amid tighter industry supplies arising from
production stoppages and cuts by other producers for environmental reasons," it said in a statement.
Jiutian Chemical is engaged in the manufacture and production of dimethylformamide (DMF), which is commonly used in industries as a solvent.
The company will release its financial results on August 14.
