Cosmos credits demand from China for improving sales


Strong demand within China pushed up sales for Hong Kong’s Cosmos Machinery Enterprises Ltd. in the first half of the year to levels before the economic crisis. But the company said it was concerned about uncertainty in the global economy and the risk of a slowdown in China.

Cosmos, a diversified firm that is one of China’s largest plastics machinery makers, said sales in its machinery division more than doubled in the first half of 2010, to HK$487.4 million (US$62.6 million), compared to the dismal first six months of 2009, the company said in an Aug. 24 filing to the Hong Kong Stock Exchange.

“The performance of most of the businesses have recovered or even surpassed their respective levels prior to the financial crisis,” Cosmos said, as Chinese...
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