Statistics

Yunnan Copper posts profits rise

(chinadaily.com.cn)
Updated: 2010-08-18 16:18

China's Yunnan Copper said its net profit in the first half of this year rose 249 percent year-on-year to 188 million yuan ($27.69 million) because prices of nonferrous metal surged.

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Total revenue of the company also increased 160.11 percent from a year earlier, to 13.56 billion yuan, with earnings per share standing at 0.149 yuan.

The company said some equipment were suspended operation for overhaul in the first half of 2009, which cut down both output and sales volume then, was another reason for the profits surge in the first half of 2010.

In addition, Yunnan Copper is planning to issue up to 1.9 billion yuan short-term financing bonds in 2010, with a predicted annual interest rate?of 3.5 percent.