China's Tibet Tianlu Forecasts Profits to Jump 850% in 2009

Tibet Tianlu Co., Ltd, a major road builder in southwest China's Tibet Autonomous Region, Friday forecast its 2009 net profits would jump 850 percent from a year earlier.

In a statement filed to the Shanghai Stock Exchange, Tibet Tianlu gave no exact figure of its net profits in 2009.

The company said its net profits in 2008 surpassed 8 million yuan (1.2 million U.S.dollars), with earnings per share at 0.018 yuan.

Tibet Tianlu said the forecast profit jump was attributable to sales growth of its new holding subsidiary, Tibet Gaozheng Building Material Co., Ltd, and securing more road projects in 2009.