Jump in earnings
By Pan Xiaoyi |
April 23, 2010, Friday
|
Print Edition
Print Edition
JIANGXI Copper, China's biggest copper producer, said its first-quarter profit more than quadrupled from a year ago due to increased output and higher metal prices.
Net profit for the first three months soared 360 percent to 697.5 million yuan (US$102 million) from 151.8 million yuan in the same period last year. Revenue surged 61 percent to 15.9 billion yuan, the firm said in a statement to Shanghai Stock Exchange yesterday.
However, the sparkling performance slightly missed expectations, China International Capital Corp wrote. But the research house was optimistic copper prices will continue to rise.
Net profit for the first three months soared 360 percent to 697.5 million yuan (US$102 million) from 151.8 million yuan in the same period last year. Revenue surged 61 percent to 15.9 billion yuan, the firm said in a statement to Shanghai Stock Exchange yesterday.
However, the sparkling performance slightly missed expectations, China International Capital Corp wrote. But the research house was optimistic copper prices will continue to rise.
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