03 MARCH 2014AlCircle.com
Aluminum Corp of China turns back into the black with high profit margins
Edited by : AL CIRCLE
1 min read
The Aluminum Corp of China goes back into the black, with its earnings report of 2013 that showed the company made a total profit of 173 billion yuan ($28 billion) in 2013, up 16% year-on-year.
The company suffered a loss of 8.2 billion yuan in the year 2012 and from there went into making a profit of 948 million yuan profit in the year 2013.
The company said their total profit made in the last year can be largely attributed to their stricter management, increased capital operation and tighter control of expenditure despite the stagnant performance of the industry.
According to earnings report, last year the company cut down the cost of making alumina products by 9 percent, and electrolytic aluminum products cost decreased by 5 percent. This resulted in the increase in profit which amounted to around 5.3 billion yuan.
According to the report, the capital operation accounted for almost two-thirds of the total profit of the corporation last year.
The company suffered a loss of 8.2 billion yuan in the year 2012 and from there went into making a profit of 948 million yuan profit in the year 2013.
The company said their total profit made in the last year can be largely attributed to their stricter management, increased capital operation and tighter control of expenditure despite the stagnant performance of the industry.
According to earnings report, last year the company cut down the cost of making alumina products by 9 percent, and electrolytic aluminum products cost decreased by 5 percent. This resulted in the increase in profit which amounted to around 5.3 billion yuan.
According to the report, the capital operation accounted for almost two-thirds of the total profit of the corporation last year.
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