Jiangxi Copper Net Profit Nearly Doubles To CNY4.23B

HONG KONG, Aug 25, 2011 (Dow Jones) -- Jiangxi Copper Co. (0358.HK), China's biggest copper producer by output, said Thursday its first-half net profit nearly doubled due to higher product prices and copper output.

The company, which also produces gold and silver, said its net profit for the six months ended June 30 was 4.23 billion yuan ($662 million), up from CNY2.12 billion a year earlier, based on Chinese accounting standards.

Revenue rose 58% to CNY59.32 billion from CNY37.57 billion.

The Hong Kong- and Shanghai-listed company, which is based in Guixi city in Jiangxi province, said it produced 48,500 metric tons of copper cathode in the first half, up from 45,200 tons a year earlier.