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Metallurgical Corp's new contract value down 25.4% in H1

Jul. 17, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618> or MCC, the country's leading mining and smelting operator, said its new contract value for the first half of this year decreased 25.4% YoY to RMB 123.61 billion.

According to a statement filed with Shanghai Stock Exchange, the mining and smelting operator saw its overseas contract hit RMB 10.25 billion in the six-month period.

In June 2012, the company inked five major contracts worth over RMB 500 million each with contract value of RMB 4.69 billion, accounted for 2% of its 2011 operating revenue.

In the first quarter of this year, MCC realized RMB 44.85 billion in operating revenue, up 4.28% YoY, while its net profit attributable to shareholders declined 27.82% from a year earlier to RMB 863.39 million.

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