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Metallurgical Corp of China's profit up 33.8% in Q3

Nov. 1, 2012 (China Knowledge) - Metallurgical Corp of China Ltd<601618><1618>, the country's leading mining and smelting operator, has said its net profit attributable to shareholder surge 33.8% YoY to RMB 848 million in the third quarter of this year.

According to a statement filed with Hong Kong Stock Exchange, basic earnings per share for the period were RMB 0.04.

In the three month ended September, the Chinese mining and smelting operator saw its operation revenue reach RMB 48.27 billion, less than RMB 55.93 billion it realized in the corresponding period of last year.

In the first nine months of this year, the Shanghai and Hong Kong listed company's operation revenue amount to RMB 155.28 billion, down 4.2% from a year earlier.

Meanwhile its net profit for the first nine month period plunged 74.6% YoY to RMB 662 million, due to increasing financial cost and assets depreciation losses, as well as reduced investment income.

From January to September, Metallurgical Corp inked RMB 178.84 billion worth of new contracts, down 23% from a year earlier.

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