Tongling Nonferrous records 40% higher net profits in Q1

SHANGHAI, Apr 27 (SMM) – Tongling Nonferrous Metals reported net profits of 203 million yuan for the first quarter of this year, up 40.5% year on year, according to its earnings report on Thursday April 26.  

This compared with an average growth of 98.4% for the nonferrous smelting and processing industry.

The company’s revenue amounted to 17.74 billion yuan during the three-month period, down 2.5% from the corresponding period last year. This compared with the average growth of 16.5% for the industry.

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