22 AUGUST 2014Shanghai Metal Market
Ye Chiu Metal Recycling (China) posts 92.15% fall in h1 profits on falling prices
Edited by : AL CIRCLE
1 min read
Ye Chiu Metal Recycling (China) Ltd. reported a 92.15% year-on-year fall in net profits to 5.64 million yuan ($ 0.91 million) during the first six months of the year, it said in its semiannual financial report.
The company attributed the slump in net profits to falling prices of copper , aluminum and lead , which sent its gross margin down 2.16% on the year and business revenues down 3.89% on a yearly basis to 2.3 billion yuan, the company added.
The company sold only 146,800 tonnes of aluminum ingot during H1 2014, down 11.49% from a year earlier, also partly contributing to the plunge in net profits, it said.
The company attributed the slump in net profits to falling prices of copper , aluminum and lead , which sent its gross margin down 2.16% on the year and business revenues down 3.89% on a yearly basis to 2.3 billion yuan, the company added.
The company sold only 146,800 tonnes of aluminum ingot during H1 2014, down 11.49% from a year earlier, also partly contributing to the plunge in net profits, it said.
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