HONG KONG – Laminate manufacturer Kingboard Chemical Holdings Ltd. reported 2009 net profit rose 40.5% over 2008, to HK$2.4 billion.
The firm's operating revenue rose 0.4% year-over-year to HK$23.8 billion.
The surge is attributed to strong demand in the Chinese copper foil market.
Earnings on sales of copper foil and PCBs were HK$1.96 billion, up 28% year-over-year.
Sales of PCBs rose 3% to HK$600 million compared to 2008, mainly as a result of acquisitions.
US$1 = HK$7.7629