SHANGHAI, Aug. 28 (SMM) - Huayou Cobalt turned losses into profits during the first half of 2017, according to its half-year financial report.
During the report period, its revenues reached 3.78 billion yuan, up 74.92 per cent on a yearly basis, and net profits attributable to shareholders were 670 million yuan, a reversal from losses of 31.28 million yuan seen a year earlier.
The 2017 first-half year marked the “3 best” in production situation, industry’s coordination and economic returns, the company said.
The company added sales income from cobalt products accounted for about 73 per cent of the total, up 13 percentage points on a yearly basis.
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