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Jiangxi copper first-quarter profit surges threefold
Beijing, Apr 14: Jiangxi Copper Co., China`s largest producer of the metal, said first-quarter profit jumped more than threefold to 331 million Yuan (40 million US dollar) as global prices of the metal surged.
Beijing, Apr 14: Jiangxi Copper Co., China's
largest producer of the metal, said first-quarter profit
jumped more than threefold to 331 million Yuan (40 million
US dollar) as global prices of the metal surged.
Net income rose from 90.5 million Yuan in the first
quarter of 2003 on sales that doubled to 2 billion Yuan,
Jiangxi said in a statement.
First-half profit growth may rise more than 50 per cent, the Guixi city, Jiangxi province-based company said.
The average price of copper futures in the quarter rose 60 per cent from a year earlier on the London Metal Exchange, fueled by demand from china, the world's top user of the metal. China's efforts to damp economic growth amid soaring commodity prices may cause Jiangxi's profit growth to slow.
Bureau Report
First-half profit growth may rise more than 50 per cent, the Guixi city, Jiangxi province-based company said.
The average price of copper futures in the quarter rose 60 per cent from a year earlier on the London Metal Exchange, fueled by demand from china, the world's top user of the metal. China's efforts to damp economic growth amid soaring commodity prices may cause Jiangxi's profit growth to slow.
Bureau Report