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Minmetals rare earths: net profit is expected to rise 149.81 per cent to 164.95 per cent in 2018 compared with the same period a year earlier

iconJul 13, 2018 17:47
Source:SMM

SMM7, July 13 (Xinhua) Minmetals rare Earth Co., Ltd. released a semi-annual earnings forecast for 2018. the forecast shows that the company expects a profit of 66 million yuan to 70 million yuan attributable to shareholders of listed companies in the half year of 2018. This represents an increase of 149.81 per cent over the same period last year and 164.95 per cent over the same period last year. It made a profit of 26.42 million yuan in the same period last year. Basic earnings per share ranged from 0.0673 yuan to 0.0714 yuan, compared with 0.0269 yuan in the same period last year. The average net profit growth rate of nonferrous smelting and processing industry is 45.89%.

With regard to the reasons for the change in performance, Minmetals rare Earth said that the main reason for the same upward trend in performance during the reporting period was the impact of changes in the sales structure, with sales of some marketable products increasing compared with the same period last year, while the subsidiary's access to government subsidies also increased the company's profits.

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