Zangge Mining Expects Up to 108% Rise in H1 Attributable Profit
Zangge Mining (SHE:000408) forecasts its attributable profit to rise 97% to 108% to between 3.55 billion yuan and 3.75 billion yuan in the first half from 1.80 billion yuan in the year-ago period, according to a Tuesday filing with the Shenzhen bourse. The potassium chloride and lithium carbonate producer expects earnings per share to increase to between 2.2651 yuan and 2.3928 yuan from 1.1526 yuan a year earlier. Zangge attributed the upbeat forecast to an increase in potassium chloride prices that drove revenue upward. The company also recognized 2.8 billion yuan in investment income from the completion of phase 2 of the Julong Copper Mine.
Zangge Mining (SHE:000408) forecasts its attributable profit to rise 97% to 108% to between 3.55 billion yuan and 3.75 billion yuan in the first half from 1.80 billion yuan in the year-ago period, according to a Tuesday filing with the Shenzhen bourse.
The potassium chloride and lithium carbonate producer expects earnings per share to increase to between 2.2651 yuan and 2.3928 yuan from 1.1526 yuan a year earlier.
Zangge attributed the upbeat forecast to an increase in potassium chloride prices that drove revenue upward.
The company also recognized 2.8 billion yuan in investment income from the completion of phase 2 of the Julong Copper Mine.