Jul. 16, 2012 (China Knowledge) - Yunnan Copper Co Ltd<000878>, the third-largest copper producer in China, said it expects its net profit to drop 53% YoY to RMB 270 million in the first half of this year.
In the first six months of 2011, the company's net profit was RMB 574 million.
Yunnan Copper said its basic earnings per share were estimated at RMB 0.19 in the period, down from RMB 0.41 in the same period of last year.
The company attributed the sharp decline in net profit to decreases in the prices of its major products.
Yunnan Copper earlier reported a net profit of RMB 276.21 million for the first quarter of this year, 45.66% more than in the corresponding period of last year.