Yunnan Copper Expects 2011 Profit to Rise 31.05%

Jan. 30, 2012 (China Knowledge) - Yunnan Copper Co Ltd<000878>, the third-largest copper producer in China, said yesterday that it expected its net profit to grow about 31.05% year on year to RMB 616 million in 2011.

The company said in a statement filed with the Shenzhen Stock Exchange that basic earnings per share were estimated at RMB 0.43 last year.

The robust growth in net profit was mainly due to sharp increase in nonferrous metal prices.

In 2010, the copper producer booked a net profit of RMB 470 million and basic earnings per share were RMB 0.33.

Yunnan Copper earlier reported a net profit of RMB 806 million for the first three quarters of last year, reflecting a strong growth of 215.34%. Operating revenue grew 16.83% year on year to RMB 25.82 billion in the first nine months of 2011.