Resins manufacturer Nuplex says its Asian businesses are showing strong earnings growth with increasing demand and lower costs a key factor.

Nuplex said it will provide an earnings update at its annual meeting on November 9 but in the meantime said its Asian businesses have doubled their proportion of group profit so far this year.

“We have been experiencing strong sales in both China and Vietnam, and there are also now positive signs in other South East Asian markets that demand is returning," managing director John Hirst said.

Nuplex shares, which once traded at more than $6, plummeted from over $1 to 35c in the immediate aftermath of a discounted recent rights issue earlier this year needed to pay down bank debt.

Following a share consolidation the shares have since risen back over the $2 mark.

At 3.40pm today the stock was up 3c at $3.42.