Profits Drop for Richful, Lopal

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Profits Drop for Richful, Lopal

China’s Jiangsu Lopal Tech Co. and Richful Lube Additive Co. both reported drops in net profit for the third quarter, although year-to-date profits through three quarters were up for each company.

Richful’s net profit for the third quarter dropped 45.3% to ¥31.6 million (U.S. $5 million), but its year-to-date net profit through the first three quarters edged up 5% to ¥135.6 million.

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Third-quarter operating income for the company fell 25% to ¥189.7 million, while year-to-date operating income during the first three quarters rose 11% to ¥675.7 million.

Based in Xinxiang, Henan province, Richful operates a factory there with capacity to manufacture about 100,000 metric tons per year of additive components and 15,000 t/y of packages.

Lopal Tech Co.

Lubricant manufacturer Lopal Tech reported that its net profit in the third quarter decreased 12% to ¥46.7 million, while its year-to-date net profit through three quarters reached ¥194.2 million, a sharp 35% increase.

Operating income for Lopal jumped 89% to ¥1 billion in the third quarter, and year-to-date through three quarters by 69% to ¥2.3 billion.

The company reported that for the first nine months of this year, operating income for its lubricants business segment – its largest operating segment – totaled 646.3 million.

The company markets engine oils and gear oils under its Lopal brand and car care products, like coolants, under the 3ECARE brand.

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