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Tibet road builder's profits up 850%

February 3, 2010

Tibetan Review
January 31, 2010

Thanks to China’s projects and plans to build
more roads in Tibet than ever before, Tibet
Tianlu Co., Ltd, a company that is a major road
builder there, was likely to see a whopping 850
percent increase in its profits in 2009,
according to China’s official Xinhua news agency
Jan 29. The company has not given the exact
figure of its 2009 net profits in a statement
filed to the Shanghai Stock Exchange, the report added.

The company’s net profits in 2008 was more than 8
million yuan (US $1.2 million), with earnings per share being 0.018 yuan.

The company has said the sharp jump in its
profits for 2009 was attributable to sales growth
of its new holding subsidiary, Tibet Gaozheng
Building Material Co., Ltd, and the fact that it
had secured more road projects during the year.

Building roads, railways and airports has become
a major focus of China’s development projects in
Tibet especially after the fifth Forum for Work
in Tibet held by the Politburo from Jan 18 to 20, 2010.
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