Chalco’s nine months profit jumps on the back of rising aluminium prices
Chinese aluminium giant Chalco announced an increase in net profit and revenue in the first nine months of 2017. The company’s net profit jumped more than tenfold year-on-year on higher aluminium prices.
According to news published by Reuters, Chalco posted 1.36 billion yuan ($205 million) in profit during January- September, from 124.27 million yuan a year earlier.
The company said in a filing to the Shanghai stock exchange that its revenue rose 52.5 per cent in the mentioned period. Chalco generated revenue of 139.9 billion in January- September.
The company also announced its plans to add 16 billion yuan of investment into five of its subsidiaries.
“At present, the company is implementing the relevant decision-making procedures and has not yet entered into any formal agreement with investors,” it said.
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