Kuala Lumpur, June 20, 2006 (ABN Newswire) - Rising potassium chloride prices will ensure China's potash demand stays strong, hence leading KGI Securities to upgrade the earnings per share (EPS) estimates of chemical company, Salt Lake Potash (SLP).
SLP increased the ex-factory potassium chloride price to RMB1, 790/mt from RMB1, 750/mt at the start of May with KGI predicting further price rises.
As a result, the EPS estimate for 2006 has been upped to RMB0.93 from 0.82 while 2007 is forecast to be RMB1.19 from RMB1.08.
The broker has maintained its Outperform call on the chemical company.
Contact:
Daniel Peter
Moneynewsasia.com
SLP increased the ex-factory potassium chloride price to RMB1, 790/mt from RMB1, 750/mt at the start of May with KGI predicting further price rises.
As a result, the EPS estimate for 2006 has been upped to RMB0.93 from 0.82 while 2007 is forecast to be RMB1.19 from RMB1.08.
The broker has maintained its Outperform call on the chemical company.
Contact:
Daniel Peter
Moneynewsasia.com
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About Qinghai Salt Lake Potash Co
Qinghai Salt Lake Potash Co., Ltd.. The Group's principal activities are developing, producing, selling and operating chlorine potassium. Other activities include developing, producing, selling and operating carnallite and low adopt carnallite and developing, processing and smelting other mining products.
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