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Jiangxi Copper forecasts up to 160% jump in Q1 net profit

Jiangxi Copper Co. Ltd. said April 7 that it expects its net profit attributable to shareholders in the first quarter to jump by 140% to 160% compared to the year-ago net profit of 201.4 million Chinese yuan, or 6 fen per share.

It attributed the anticipated increase to the recent surge in the prices of its main metal products.

Jiangxi recently reported a profit attributable to shareholders of 840.8 million yuan, or 24 fen per share, for 2016, up year over year from 689.6 million yuan, or 20 fen per share.

As of April 7, US$1 was equivalent to 6.90 Chinese yuan.