01 SEPTEMBER 2014AlCircle.com
Nanshan Aluminium announces a 3.23% rise in net profits for H1 2014
Edited by : AL CIRCLE
1 min read
Shandong Nanshan Aluminium Co. filed financial report for the first six months of 2014 to the Shanghai Stock Exchange and reported a YOY rise of 3.23% in net profits to 323.37 million yuan ($ 52.46 million) as a result of falling costs, expanding export margins and changes in product portfolio.
The company stated in their report that the falling coal prices played a significant role in the decline of production costs, while a lower SHFE/LME aluminium price ratio, facilitated export pushing export profitability up.
Nanshan Aluminium constantly was in sync with the market demand and adjusted their production portfolio accordingly which was a key factor in improving profit margins.
The report also mentioned that the focus of the company is slowly shifting to high value added products which are used in the shipping, automobile and aerospace industry and new projects are lined up for the same.
The company’s revenue however has seen a dip of 7.13% when compared to last year in the H1 period down to 6.72 billion yuan.
The company stated in their report that the falling coal prices played a significant role in the decline of production costs, while a lower SHFE/LME aluminium price ratio, facilitated export pushing export profitability up.
Nanshan Aluminium constantly was in sync with the market demand and adjusted their production portfolio accordingly which was a key factor in improving profit margins.
The report also mentioned that the focus of the company is slowly shifting to high value added products which are used in the shipping, automobile and aerospace industry and new projects are lined up for the same.
The company’s revenue however has seen a dip of 7.13% when compared to last year in the H1 period down to 6.72 billion yuan.
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