Jiangxi Copper Profit Down On Higher Raw Material Prices

SHANGHAI, Oct 25, 2011 (Dow Jones) -- Jiangxi Copper Co. (0358.HK), China's biggest copper producer by output, said Tuesday its third-quarter net profit fell 3.1% from a year earlier as rising prices of raw materials offset rising prices of its products, which also include gold and silver.

The company, which produces copper cathode and noble metals, said its net profit for the three months ended Sept. 30 was CNY1.24 billion, according to Chinese accounting standards, down from CNY1.28 billion a year earlier.

Revenue rose 56% to CNY30.62 billion from CNY19.64 billion.

The Hong Kong and Shanghai-listed company is based in Guixi city in southern China's Jiangxi province.