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Jiangxi Copper Net Profit Down on Weak Global Copper Prices

iconAug 30, 2012 09:54
Source:SMM
Jiangxi Copper Co. (0358.HK) said Wednesday its first-half net profit fell 39% amid weakening global copper prices and a slowing domestic economy.

Aug 29, 2012 (Dow Jones) SHANGHAI--Jiangxi Copper Co. (0358.HK), China's biggest copper producer by output, said Wednesday its first-half net profit fell 39% amid weakening global copper prices and a slowing domestic economy.

The Hong Kong- and Shanghai-listed company, which also produces gold, silver and rare-earth minerals, said its net profit for the six months ended June 30 was 2.58 billion yuan ($406 million), down from CNY4.23 billion a year earlier.

First-half revenue rose 13% to CNY67.07 billion from CNY59.32 billion a year earlier, Jiangxi Copper said.

 

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