Nonfemet Sees Profit down 73% in H1, Hurt by Falling Zinc, Lead-Shanghai Metals Market

Hot Keywords

  • Nickel
  • Nickel ore
  • Inventory data
  • Copper
  • Stainless steel
  • Rare earths
  • Aluminium
  • Macroeconomics
  • Zinc
  • Iron ore
  • Production data
  • Market commentary
  • Tin
  • Morning comments
  • Futures movement

Nonfemet Sees Profit down 73% in H1, Hurt by Falling Zinc, Lead

Industry News 11:29:09AM Aug 30, 2016 Source:SMM

SHANGHAI, Aug. 30 (SMM) - Shenzhen Zhongjin Lingnan Nonfemet Co.’s (Nonfemet) earnings report for the first half of this year said its net profit was 43.55 million yuan, down 73% year-on-year, due mainly to falling lead and zinc prices, according to cfi.net.

However, its net profit was 96.46 million yuan in the second quarter, or 0.04 yuan per share, improving on a quarterly basis, thanks to rising zinc.

Zinc rose 14% in Q2 compared to Q1, so its gross margin increased 9 percentage points to 14%.

The firm’s lead and zinc ore production was 163,000 tonnes in the first half of the year, flat year-on-year. 

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. 


Nonfemet Sees Profit down 73% in H1, Hurt by Falling Zinc, Lead

Industry News 11:29:09AM Aug 30, 2016 Source:SMM

SHANGHAI, Aug. 30 (SMM) - Shenzhen Zhongjin Lingnan Nonfemet Co.’s (Nonfemet) earnings report for the first half of this year said its net profit was 43.55 million yuan, down 73% year-on-year, due mainly to falling lead and zinc prices, according to cfi.net.

However, its net profit was 96.46 million yuan in the second quarter, or 0.04 yuan per share, improving on a quarterly basis, thanks to rising zinc.

Zinc rose 14% in Q2 compared to Q1, so its gross margin increased 9 percentage points to 14%.

The firm’s lead and zinc ore production was 163,000 tonnes in the first half of the year, flat year-on-year. 

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.