Chinese lubricant marketer Lopal Tech Co. reported a 9% increase in first quarter sales revenue for its lubes segment despite a 6% decrease in sales volume and a 33% drop in production.
In its main operating data report filed with the Shanghai Stock Exchange, Lopal reported sales revenue of ¥211.3 million (U.S. $30 million) for its lubricant segment in the first quarter, an uptick from ¥193.3 million in the same period last year.
In its main operating data report’s notes on price changes for main products and raw materials, the company noted significant increases in average prices for lubricants – its main product – and average prices for its required raw materials, including base oils. The average sales price for its lubricants increased by 17% in the quarter, while the average price it paid for base oil increased by 13%, or ¥1,006 per ton, the company said.
The company said it sold 11,734 metric tons of lubricants in the first quarter, compared to 12,549 tons.
Lopal’s lubricants production edged up to 13,338 tons in the quarter, from 13,067 tons.
The company markets engine oils and gear oils under its Lopal brand and car care products, including coolants, under the 3ECare brand.