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Yunnan Tin expects to swing to FY'16 profit from 1.97B yuan loss

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Yunnan Tin expects to swing to FY'16 profit from 1.97B yuan loss

Yunnan Tin Co. Ltd. expected to swing to a net profit of between 76 million and 114 million Chinese yuan, or between 5.16 and 7.74 fen per share, in 2016, according to an earnings guidance released on Jan. 20.

This compares to a net loss of about 1.97 billion yuan, or 1.34 yuan per share, posted in 2015.

The company attributed the turnaround to increases in prices of nonferrous metals as well as improved profitability at indium-tin miner Yunnan Hualian Zn-In Shares Co., a subsidiary.

As of Jan. 19, US$1 was equivalent to 6.88 Chinese yuan.