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Yunnan Copper warns of up to 36% YOY decline in H1'16 net profit

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Yunnan Copper warns of up to 36% YOY decline in H1'16 net profit

Yunnan CopperIndustry (Group) Co. Ltd. expected its net profit attributable to shareholders to dropby between 17% and 36% year over year in the first half and to range between 10million Chinese yuan and 13 million yuan, according to a statement filed withthe Shenzhen Stock Exchange on July 14.

EPSwas expected to range between 0.7 fen and 0.9 fen, compared to 1.1 fen posted ayear ago.

The companyattributed the profit decline to a fall in prices of copper cathode andsulfuric acid, as well as an increase in interest expenses.

As of July 14, US$1 wasequivalent to 6.69 Chinese yuan.