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Midas reports strong Q3-2013 profit as new orders kick in….the wait for the rerating appears to be finally over if more high speed contracts are won
By Kevin Scully-Financial Blog  •  November 18, 2013
Midas reports strong Q3-2013 profit as new orders kick in….the wait for the rerating appears to be finally over if more high speed contracts are won Monday, 18 November, 2013  9:30 AM
Posted by Kevin Scully

Midas reported a strong set of Q3-2013 results with net profit of RMB16.8mn compared to a loss of RMB6.5mn in the same quarter in 2012.

 Key highlights of the results are:

a)      revenue rose 48.5% to RMB301.0mn in Q3-2012 over Q3-2012

b)      associate profits were RMB10.9mn in Q3-2013 compared to a loss of RMB6.9mn

c)      Pretax profit for Q3-2013 was RMB20.4mn compared to a loss of RMB1.6mn while nine month to Sept 30, 2013 pretax profit was RMB35.6mn compared to RMB26.7mn, a gain of 33.3%

d)     Net profit was RMB16.8mn compared to a loss of ...

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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