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Jiangxi Copper expects up to 70% rise in 9-month earnings

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Jiangxi Copper expects up to 70% rise in 9-month earnings

Jiangxi Copper Co. Ltd. said Oct. 16 that it expects its attributable net profit for the nine months that ended Sept. 30 to increase by 50% to 70% as compared with the corresponding year-ago period.

The company attributed the profit increase to higher metals prices. The estimates were based on Chinese accounting standards.

In the corresponding period in 2016, Jiangxi Copper booked a net profit of 988.3 million yuan, or 29 fen per share.

As of Oct. 16, US$1 was equivalent to 6.59 Chinese yuan.