Home / Metal News / Ji En Nickel Reports Losses in Net Profits H1

Ji En Nickel Reports Losses in Net Profits H1

iconSep 15, 2015 15:40
Source:SMM
Jilin Jien Nickel Industry suffered a loss of 350 million yuan ($ 54.9 million) in net profits in H1, down 9,206.11 % YoY, SMM reported.

SHANGHAI, Sept. 15 (SMM) – Ji En Nickel Industry Co. suffered a loss of 350 million yuan ($ 54.9 million) in net profits in H1, down 9,206.11 % YoY, SMM reported.

The company gained revenues of 2.25 billion yuan in the first half of 2015, up 58.08 % from a year ago and achieving 56.3% of the whole year’s plan. Even so, the company still registered heavy losses due to 77.43% rise in operating costs, 84.45% growth in selling expenses and 395.83% increase in financial expenses, all on the YoY basis.

Revenues from refined nickel increased 113.45% YoY during Jan.-Jun. but surge in sales, resulting from slipping refined nickel prices, added to operating costs by 138.48% YoY. Meanwhile, gross margin slid 9.87 percentage points YoY. SMM #1 nickel prices averaged 101,000 yuan per tonne in H1, down 9.36% YoY. Gross margin from nickel salt grew 8.72 percentage points to 28.64%.

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.

Jilin Jien Nickel Industry
refined nickel
SMM #1 refined nickel

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news

SMM Events & Webinars

All