Healthcare Co profit keeps sliding in Q1 2018; buys Spanish competitor

摘要

Nantong, Jiangsu - Chinese polyurethane mattress and pillow maker Healthcare Co reported CNY 4.6m ($723,000) net profit in the first quarter of 2018. This is down by 93% from the same period in 2017. Revenue during the quarter, however, rose by 27% to CNY 611m. Reasons for the profit drop include rising feedstock prices. Increased promotional costs and foreign exchange loss also contributed, said the company's financial statement.