Shanghai, China – Healthcare Co expects a 97% increase in profits attributable to shareholders in 2019 compared with 2018.
The company, which makes Dream Lily mattress and bedding products, revealed the news in a special announcement to the Shanghai Stock Exchange.
The company said it expected 2019 profits of CNY 366.6m ($52.8m), compared with CNY 179.9 in 2018. It attributes the rise to the fact that it stuck with its strategic plan. Production started overseas in 2019, and it integrated the business from foam production through to retail outlets.
In December 2019, it inaugurated a plant in the US. A couple of months earlier, it had announced plans to buy a US mattress retailer.
The company added that its numbers benefitted from exchange rate movements in its favour. The significant fall in the price of key diisocyanates between 2018 and 2019 also helped.
Currency exchange: XE.com
