Metals News
Jiangxi Copper Net Profit Doubles At CNY4.99 Bln
industry news
09:21AM
Mar 30,2011
Source:SMM

HONG KONG, Mar 29, 2011 (Dow Jones Commodities News via Comtex) -- Jiangxi Copper Co. (0358.HK), China's biggest copper producer by output, said Tuesday its 2010 net profit doubled from a year earlier due to higher product prices.

The company, which also produces gold and silver, said its net profit for the 12 months ended Dec. 31 was CNY4.99 billion ($761 million), up from CNY2.38 billion a year earlier, based on international accounting standards. The result was slightly higher than the average CNY4.45 billion forecast of 10 analysts polled by Thomson Reuters.

The Hong Kong-and-Shanghai-listed company said its revenue rose 48% to CNY76.14 billion from CNY51.43 billion. It recommended a final dividend of CNY0.2. It paid a final dividend of CNY0.1 a year earlier.
 

 

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