Gold firm sparkles
By Feng Jianmin |
April 24, 2010, Saturday
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Print Edition
Print Edition
SHANDONG Gold Mining Co, China's third-largest bullion producer, said its net profit in the first quarter grew 72.6 percent to 268 million yuan (US$39.3 million) from the same period of last year.
The rapid growth was due to the firm's efforts to consolidate resources and upgrade technology as well as a 22 percent rise in domestic gold prices, said CITIC Securities Co.
Its income hit 6.7 billion yuan in the first quarter, 6.7 percent higher than a year earlier. Earnings per share was 0.38 yuan.
Gold investment will stay strong on inflationary pressure in the middle and long term, analysts said.
The rapid growth was due to the firm's efforts to consolidate resources and upgrade technology as well as a 22 percent rise in domestic gold prices, said CITIC Securities Co.
Its income hit 6.7 billion yuan in the first quarter, 6.7 percent higher than a year earlier. Earnings per share was 0.38 yuan.
Gold investment will stay strong on inflationary pressure in the middle and long term, analysts said.
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