Chalco's higher revenue from alumina and coal output lifts 1H2022 profit by 29%
Aluminium Corporation of China Limited, popularly known as Chalco, has posted higher profit for the first half of 2022 ended June 30, underpinned by increased revenue from alumina and coal production and imported coking coal business.
From RMB 3.09 billion or RMB 0.176 per share of Chalco’s profit in H1 2021, it jumped to RMB 3.99 billion or 0.231 per share a year later, according to a filing last week, August 23. That was a significant year-on-year increase of 29.13 per cent.
Revenue for the same period reached RMB 145.40 billion, up by 20.34 per cent from RMB 120.82 billion a year earlier, as was anticipated by analysts at RMB 146 billion in a Visible Alpha poll.
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Talking of each business unit, Chalco’s revenue from alumina rose to RMB 27.96 billion from RMB 24.24 billion, and that from the trading segment grew to RMB 120.51 billion from RMB 97.94 billion, driven primarily by higher coking coal prices.
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