SHANGHAI, Sept. 18 (SMM) – Henan Yuguang Gold & Lead Co. reported a decline of 42.67% YoY to 7.06 million yuan ($ 1.12 million) in H1 net profits on slipping by-product prices, the company’s report revealed.
The company’s profits are contributed mainly by by-product. As a result, the slip in by-products, like silver, antimony and bismuth, negatively affected the company’s profits.
Revenues from silver decreased 25.48% YoY in the first half of 2015, 15.4% of total revenues. Silver prices were down 14.66% with gross margin down 0.49% to -0.04%. Silver production came in at 311.09 mt in H1, fulfill 44.44% of the whole year’s plan.
Revenues from refined lead, the company’s main product, fell 14.99% from a year ago, 23% of total revenues. Lead prices dropped 6.66% YoY but gross margin up 1.69 percentage points to 1.26%. Refined lead production totaled 162,900 mt at the company, fulfilling 40.73% of the whole year’s plan.
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