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China's Largest Tin Producer Yunnan Tin Turns a Profit in H1 2014, Gaining 170 Mln Yuan

iconJul 23, 2014 10:23
Source:SMM
Yunnan Tin Co. reported a net profit of 170 million yuan ($27.57 million) for the first half of 2014 in its semiannual report filed to the Shenzhen Stock Exchange today.

SHANGHAI, Jul. 23 (SMM) – Yunnan Tin Co. reported a net profit of 170 million yuan ($27.57 million) for the first half of 2014 in its semiannual report filed to the Shenzhen Stock Exchange today.

The China’s largest tin producer and processor registered 11.19 billion yuan in operating revenue in H1, a growth of 6.87% year-on-year, and made a profit of 170 million yuan, or 0.15 yuan per share, comparing to a 965 million yuan loss recorded for H1 2013.

The company attributes the turnaround to a shift of production mode and the adjustment to production mix which allowed it to reduce costs.  

Industry participants are optimistic towards the company's performance in the latter half of the year considering global economic recovery, improving metal demand and Indonesia's restriction on tin exports.

Yunnan Tin Co.
2014 H1 results

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