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Twin Tower Aluminium Revises Earnings Forecast
Edited by : AL CIRCLE
1 min read
Taiyuan Twin Tower Aluminum Oxide (000795) revised its earnings forecast for the first half of 2011, reports Shanghai Securities News, citing a company filing.
The maker of rare earth permanent magnet materials and related products now anticipates a 640-680 percent year-on-year growth in first half net profit. It had previously forecast an increase of 250-300 percent.
The company had recorded net profit of 2.16 million yuan in the same period last year.
Following the revision, the company now expects to earn 16-17 million yuan in the first half of 2011, with earnings per share of 0.05 yuan.
The company said it benefited from a huge increase in sales revenues.
The maker of rare earth permanent magnet materials and related products now anticipates a 640-680 percent year-on-year growth in first half net profit. It had previously forecast an increase of 250-300 percent.
The company had recorded net profit of 2.16 million yuan in the same period last year.
Following the revision, the company now expects to earn 16-17 million yuan in the first half of 2011, with earnings per share of 0.05 yuan.
The company said it benefited from a huge increase in sales revenues.
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