SHANGHAI, Aug. 28 (SMM) – Shandong Nanshan Aluminium Co. reported a 3.23% year-on-year rise in net profits to 323.37 million yuan ($ 52.46 million) during the first six months of the year due to falling costs, growing export margins and product portfolio adjustment, it said in its interim report filed to the Shanghai Stock Exchange.
Falling coal prices were partly behind the decline in production costs, the company said in its report.
Its export profitability improved as a lower SHFE/LME aluminum price ratio favored exports.
Nanshan Aluminium actively adjusted its product portfolio in response to market demand, which helped improve its profits margins, it added.
The company is shifting its focus onto high value-added products used in the aerospace, shipping and automobile sectors, with new projects under construction, it said in its report.
Business revenues dropped 7.13% from a year ago to 6.72 billion yuan during H1 2014, according to the interim report.
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