Tongling Nonferrous Metals Forecasts Up to 119% Jump in H1 Profit
Tongling Nonferrous Metals (SHE:000630) forecasted first-half attributable net profit of between 2.65 billion yuan and 3.15 billion yuan, compared with 1.44 billion yuan the previous year. The 84% to 119% rise is attributed to sharp increases in cathode copper and sulfuric acid prices as well as sustained rises in copper foil processing fees, according to a Tuesday filing with the Shenzhen bourse. Basic earnings per share are expected to rise to 0.20 yuan to 0.23 yuan, versus 0.11 yuan last year. Shares of the copper products company were up 1% in recent trade.
Tongling Nonferrous Metals (SHE:000630) forecasted first-half attributable net profit of between 2.65 billion yuan and 3.15 billion yuan, compared with 1.44 billion yuan the previous year.
The 84% to 119% rise is attributed to sharp increases in cathode copper and sulfuric acid prices as well as sustained rises in copper foil processing fees, according to a Tuesday filing with the Shenzhen bourse.
Basic earnings per share are expected to rise to 0.20 yuan to 0.23 yuan, versus 0.11 yuan last year.
Shares of the copper products company were up 1% in recent trade.