Yunnan Aluminium’s 2016 full-year net profit jumps 276% YoY

One of China's major aluminium producing companies Yunnan Aluminium Co Ltd., posted a net profit of 111 million yuan for the full year ended March 31, 2017. The profit rose 276.03 per cent from the previous year despite the fact that the primary producer had agreed on cutting production in a China Nonferrous Metals Industry Association (CNIA) meeting held last year in June.

Yunnan Aluminium's earnings per share for the financial year stood at 0.05 yuan.

As per the company's official disclosure, profit from aluminium ingot increased by 110.57 per cent from the corresponding period previous year. The downstream division producing aluminium processing products registered a profit growth of 270.30 per cent year-on-year.

Yunnan Aluminium's total revenue for 2016 was estimated at 15.543 billion yuan, down 1.95per cent year-on-year.

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Yunnan Aluminium is primarily engaged in aluminium smelting as well as the manufacture and supply of aluminium semi-finished products, carbon and carbon products. Its product base encompasses a major chunk of the entire aluminium value-chain. It also produces and supplies electrical poles, aluminium and aluminium alloy plates and strips, and prebaked anode carbon blocks to major consumer markets in China and abroad.