Jan. 20, 2012 (China Knowledge) - Xiamen
Tungsten Co Ltd<600549
>, China's largest producer of tungsten, said yesterday that it expected its net profit to grow 191.71% year on year to RMB 1.02 billion in 2011.
The company said in a statement that its earnings per share were estimated at RMB 1.50 last year.Xiamen
Tungsten saw its unaudited operating revenue jump 115.19% year on year to RMB 11.92 billion in 2011.
company attributed the strong growth in net profit to a sharp increase in the prices of tungsten products and contribution from a real estate subsidiary based in Xiamen
In the first three quarters of 2011, the company's net profit increased 188.35% year on year to RMB 905.72 million, and its operating revenue grew 150.12% to RMB 9.77 billion.