Higher Zinc Prices Contribute to 224% Climb in NFC's 2014 Profit

Published: Apr 15, 2015 11:33

Save

China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. registered a 224% spike in net profit to 266 million yuan ($43 million) last year, the company said in a statement.

SHANGHAI, Apr. 14 (SMM) – China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. registered a 224% spike in net profit to 266 million yuan ($43 million) last year, the company said in a statement.

Commencement of some construction projects and steady growth in zinc prices contributed largely to the profit surge, the company noted.

In addition, the NFC’s subsidiary Chifeng Hongye Investment sold some stake of Shengda Mining, driving up investment income.

The company now expects its profits to maintain fast growth in the first the quarter this year considering improving engineering business and rising rare earth prices.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

China Nonferrous Metal Industry’s Foreign Engineering and Construction Co.2014 FY results

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 hours ago

Platinum Prices Edged Up Intraday, Spot Discounts Held Steady and Market Transactions Were Normal [SMM Daily Review]

21 hours ago

Silver Prices Rose Slightly as the Spot-Futures Price Spread Widened; Approaching Month-End, Trading in the Spot Market Remained Sluggish [SMM Daily Review]

21 hours ago

Gold – From the Iran War to Global Financial Catastrophe

For almost four weeks, the war against Iran has kept the world on edge – a conflict that leaves deep marks not only geopolitically but also economically. Volatility and uncertainty in global markets are increasing daily.

21 hours ago