trending Market Intelligence /marketintelligence/en/news-insights/trending/-FpHNpcqrClN9k__co8cvQ2 content esgSubNav
In This List

Metallurgical Corp. of China's H1'19 earnings up 8.6% YOY

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Metallurgical Corp. of China's H1'19 earnings up 8.6% YOY

Metallurgical Corp. of China Ltd., or MCC, on Aug. 30 said its net profit attributable to shareholders for the first half increased by 8.6% year over year to 3.16 billion yuan.

EPS rose to 13 fen from 12 fen a year ago. Total output of nickel, cobalt, copper, lead and zinc increased rose 25% year on year, the company said, without more specific details.

Operating revenue in the first six months jumped 26.1% over the year-ago half to 159.02 billion yuan, though operating profit slipped to 4.82 billion yuan from 4.91 billion yuan, mainly due to a jump in operating costs to 141.52 billion yuan from 110.64 billion yuan a year ago amid higher raw material and labor costs.

The company's newly signed metallurgical engineering contracts during the period saw a year over year rise of 45.5%, amounting to 64.8 billion yuan.

MCC attributed its earnings improvement to a stable macroeconomic environment in China. The investment in infrastructure in the country, excluding power, heating, gas and water production and supply industry, showed a year over year increase of 4.1%, the company said.

As of Aug. 30, US$1 was equivalent to 7.15 yuan.