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Jiangxi Copper forecasts up to 60% profit jump in FY'16

Jiangxi Copper Co. Ltd. expects its net profit attributable to shareholders to increase by 40% to 60% in 2016, compared to the year-ago net profit that totaled 637.2 million Chinese yuan, or 18 fen per share.

The company on Jan. 24 said it expects the increase due to better cost control, enhanced efficiencies and an increase in gold and silver prices.

For the third quarter of 2016, Jiangxi reported a 54.7% year-over-year increase in net profit attributable to shareholders at 514.9 million yuan, compared to 332.8 million yuan booked in the same year-ago period.