Chalco’s profit soars ten-fold in H1 2017
On Thursday, August 17, Aluminum Corp of China Limited (Chalco) announced the results for the first half of 2017. The company’s profit jumped more than tenfold year-on-year in H1 2017.
China’s leading producer of primary aluminium and alumina reported net income of 751.3 million yuan ($112.57 million) in the first six months of 2017, from 67.9 million yuan a year earlier.
The company posted 91.3 billion yuan in revenue in the first half of this year, an increase of 83 per cent year-on-year from 49.9 billion yuan a year earlier.
Prices of LME aluminium reached the highest on Thursday on expectations that the metal industry will curtail supply in China.
Chalco's Hong Kong shares increased around 68 percent from January to August, from roughly 35 percent gain for the Hang Seng index, reported by Reuters.
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