13 JANUARY 2014AlCircle.com
Chalco expected to convert losses into profits for 2013
Edited by : AL CIRCLE
1 min read
As the New Year ushers in, it is expected that Aluminium Corporation of China (Chalco) will make up for their losses for the last year. With their cost reduction as well as asset optimization efforts, they are making every attempt to earn maximum profits.
Recently the company said to Shanghai and Hong Kong stock exchanges, it expects to make a net profit of 1 billion yaun ($164 million) approximately making up for earlier loss of 8.23 billion yuan.
In the exchange filing, the company said that the alumina products cost have witnessed a drop by 9% approximately year-on-year while the products of electrolysis aluminium have dropped by 5%. The company has worked to achieve the goal of expanding their business to reach heights of success in the industry. In order to achieve this, they have disposed assets in iron ore business and aluminium fabrication enterprises.
Recently the company said to Shanghai and Hong Kong stock exchanges, it expects to make a net profit of 1 billion yaun ($164 million) approximately making up for earlier loss of 8.23 billion yuan.
In the exchange filing, the company said that the alumina products cost have witnessed a drop by 9% approximately year-on-year while the products of electrolysis aluminium have dropped by 5%. The company has worked to achieve the goal of expanding their business to reach heights of success in the industry. In order to achieve this, they have disposed assets in iron ore business and aluminium fabrication enterprises.
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