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

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.
 

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