Jiangxi Copper 3rd Quarter Net Profit Down 1.6% to CNY1.22 Bln

Oct 29, 2012, SHANGHAI (Dow Jones Commodities News via Comtex) --Jiangxi Copper Co. (0358.HK), China's biggest copper producer by output, said Monday its third-quarter net profit fell 1.6% as global copper prices fell amid a broad economic slowdown at home.

The Hong Kong- and Shanghai-listed company, which also produces gold, silver and rare-earth minerals, said its net profit for the three months ended Sept. 30 was 1.22 billion yuan ($193.8 million), down from CNY1.24 billion a year earlier.

Third-quarter revenue rose 24.2% to CNY38.0 billion from CNY30.6 billion a year earlier, Jiangxi Copper said.

Jiangxi Copper's first-half net profit fell 39% from a year earlier due to weak macroeconomic conditions.