China Biodiesel is to start trial production this week at its new plant at Xiamen in Fujian province, giving it the capability to increase the level of annual output to 100,000 tonnes a year, almost four times last year’s figure.

The company floated on Aim in 2006 at 85p, but two profit warnings last year severely dented the price.

The first warning related to the rising cost of the waste cooking oil it uses as feedstock, and the second to delays in the completion of the Xiamen plant, which had been expected to open in the third quarter last year.

In April, the company announced that pre-tax profits for 2007 had more than halved to Rmb16.8m

($2.42m), in spite of an increase in turnover from Rmb101. ... Read full article